Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the “Minnie Besties Bash!” parade at Tokyo Disneyland on January 17, 2023 in Urayasu, Japan.
Tomohiro Ohsumi | Getty Images Entertainment | Getty Images
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What you need to know today
Decoupling
Microsoft‘s rivals won a reprieve on Monday, when the software giant said it would split up its Teams and Office bundles following scrutiny from European regulators. One of its rivals, Salesforce-owned Slack, had submitted an antitrust complaint to the European Commission in 2020 over what it viewed as illegal tying of Teams into Office.
Rumbling signs of life
The IPO market in the U.S. is showing signs of revival after more than two years. Rubrik, a 9-year-old data security software vendor, filed to go public on Monday, the latest venture-backed company to make moves toward the public market after an extended lull dating back to late 2021.
Spillover effect
Boeing’s problems are starting to hurt its airline clients. United Airlines is asking pilots to take unpaid time off next month, citing late-arriving aircraft from Boeing, according to a note sent to pilots. CNBC previously reported that United would pause pilot hiring this spring for the same reason.
[PRO] Small caps
Market strategist Matt Orton is bullish on these two under-the-radar companies listed in the U.S.
The bottom line
Disney’s showdown with activist investors should see some kind of a resolution after its annual general meeting with shareholders on Wednesday.
Disney’s leaders probably need one. The outcome could well influence the identity of any new chief executive who eventually succeeds Bob Iger.
Trian Partners’ Nelson Peltz is not just taking issue with Disney’s streaming performance, he also wants a board seat.
Peltz has argued he should help lead a successor search — particularly after Iger returned as CEO in 2022 after his successor Bob Chapek was fired. Before that, Iger had also pushed back his retirement five times.
CNBC reported in September that Iger plans to name a successor and then coach that person before leaving the role toward the end of 2026.
Several executives have speculated that Dana Walden, co-chair of Disney Entertainment, is the favorite. Still, she faces stiff competition and doubts about whether she would be able to withstand scrutiny.
She is the only woman though, in an internal field that’s said to include Disney Experiences Chairman Josh D’Amaro, ESPN Chairman Jimmy Pitaro, and Alan Bergman, who is Entertainment co-chair with Walden.
Activist investors and a succession race. There are more fights than one at Mickey Mouse’s club house these days.
