food IS a theme park
In response to recent events, the Walt Disney Company has released a statement on the events in Washington DC.
Walt Disney Company Logo
On the evening of January 7th, 2021, a brief statement was posted to the Walt Disney Company’s Twitter page.
In mid-May we shared with you that Kevin Mayer, an executive at The Walt Disney Company, stepped down from his role at Disney to become the chief executive officer at TikTok.
Jesse Grant/Getty Images for Disney
But, just a few months into his role there, Kevin Mayer is leaving TikTok.
The Walt Disney Company held an earnings call today to discuss the results of its second fiscal quarter of 2020.
Magic Kingdom
In addition to addressing the financial effects of the temporary closure, Disney’s CEO, Bob Chapek, made several key announcements. Shanghai Disneyland will be officially re-opening May 11th and we finally know some of the safety measures Disney parks will be implementing when they re-open. But let’s take a look at what the Walt Disney Company had to say about their current finances as they work towards re-opening!
Earlier today, Disney executives spoke out on their financial status amidst the closures and answered questions regarding the future of the company.
©Disney Magic
CEO Bob Chapek and CFO Christine McCarthy announced Shanghai Disneyland will open later this month, but when asked about when Disney’s other experiences (like cruises) will resume, they were much less certain.
Ever since the parks first closed, we have been trying to imagine the impact the closures will have on a powerhouse like Disney.
Cinderella Castle and Main Street USA in Disney World
We’ve seen execs taking pay cuts, Cast Members being furloughed, the company taking on new debt, and even purchasing a new parcel of land. To those of us on the outside, it appears as though Disney has been thoughtfully planning their moves not only to protect themselves financially but to ensure a future for the parks we love. Former Disney CEO, Bob Iger, spoke to how the latest events have impacted the company’s vision moving forward in a recent interview with Barron’s.
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