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Wall Street analysts were shocked after Disney announced on Tuesday that its long-time CEO Robert Iger would step down and become executive chairman effective immediately. The media giant said chairman of Disney parks, experiences and products, Bob Chapek will take over.
While analysts urged investors to remain calm, many questioned the timing amid coronavirus outbreak, the launch of Disney+, and integration of Fox assets among other things.
Shares of the company were down 1.16% in early trading.
Here's what Wall Street analysts are saying about Disney's new CEO and what to do with the stock: