TikTok takes over Disney+ boss to be its new CEO
Published by Terence Mahier | Source

Disney’s Head of Streaming, Kevin Mayer, is set to become TikTok’s CEO 📹

Mayer earned a reputation as one of Disney’s best deal makers and worked on the company’s acquisitions of Pixar, Lucasfilm, Marvel, and online video company BAMTech. Losing the mastermind behind the largely successful launch of Disney+ is not good news for Disney & the stock was down 1.5% in pre-market trading 🧐

Disney was up 8% yesterday amid hopes that Parks will reopen soon thanks to a breakthrough in the conception of a vaccine against COVID-19 🦠

Rebecca Campbell, president of Disneyland Resort, will take over his position.
"No one is irreplaceable"?

Extra Insights

“When you have an opportunity like this you don’t turn it down. I’m not getting any younger and it’s such a good opportunity. But I love Disney and had no desire to leave. I wouldn’t have left Disney if I didn’t think it was in great hands”, said Mayer.

Mayer was widely considered one of the top candidates to replace Bob Iger, who stepped down as Disney’s CEO in February but eventually replaced by Bob Chapek. After that, accepting the offer of TikTok seemed like an obvious career move for Mayer 😎

What Happened on the market eventually?

No Feedback on this trade.

- Newspill Team 💊
19-May 09:06 (Eastern Time)

Every weekday, we send to our community a summary of the most impactful Business/Financial news of the day - the "Daily Dose".