Disney CEO Bob Iger Steps Down; Will DTCs Get Squeezed After Edgewell-Harry’s Deal Failure?

Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here.

Bye Of The Iger? 

Bob Iger is stepping down as CEO of Disney, the company said Tuesday. He will be replaced by Bob Chapek, most recently chairman of Disney Parks, effective immediately, and stay on as executive chairman through 2021, CNBC reports. Over his past 15 years as CEO, Iger amassed a content empire under Disney with the acquisitions of Pixar, Marvel, Lucasfilm and 21st Century Fox. He also led Disney into the streaming age with the launch of Disney Plus late last year. “With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO,” Iger said in a statement. Disney’s stock was down almost 3% in after-hours trading. More.

The Razor’s Edge

Edgewell’s failed acquisition of Harry’s, the DTC razor and skincare company, is an ominous sign for online brands. Edgewell dropped its bid two weeks ago after the FTC filed a complaint, arguing the deal would consolidate market share with Edgewell’s Schick and Edge shaving brands and lead to higher prices. The outcome is likely to spook DTC investors, who don’t see many exit opportunities outside the large CPG incumbents, writes Stratechery. Harry’s is also being punished for successfully creating a brick-and-mortar business. Specifically, Harry’s retail distribution deal with Target was the impetus for price reductions across P&G and Schick razor lines, according to the FTC filing. More.

Ad Tech Karma

Team Dayā, a group of ad industry vets working with the nonprofit buildOn, completed its first school construction in Nepal, and classes are in session. It’s the “school that ad tech built,” per Jordan Mitchell, a founding partner of the group and SVP of the IAB Tech Lab. Team Dayā has raised almost $125,000 (as of this writing), and the group has another two school builds scheduled for 2020, first in Malawi and then Guatemala. See more and donate here. The team is also hosting info sessions at the LUMA offices in NYC on March 4 and May 7.

Salesforce <3 CDP

No one actually said the words “customer data platform” during Tuesday’s Salesforce Q4 2019 earnings call, but CDPs played a starring role all the same. President and CFO Mark Hawkins called last year’s launch of Customer 360, Salesforce’s CDP offering, “one of the most significant product initiatives in the company’s history.” Although indie CDPs are generally less than impressed with the marketing clouds’ CDP efforts, Salesforce is clearly doubling down. “We started the company as a system of record, we evolved to a system of engagement, and then a system of intelligence – and now we’re pursuing a system that is a single source of truth,” CEO Marc Benioff told investors. Despite reporting solid financials – $4.9 billion in revenue for the quarter, up 34%, and $17.1 billion for the full year 2019, a 29% increase – Salesforce’s stock declined in after-hours trading following the announcement that co-CEO Keith Block would step down but remain as an advisor to Benioff for the next year. Business Insider has more on Block’s departure. In other news, Salesforce announced a $1.33 billion acquisition of Vlocity, a startup that provides industry-specific cloud and mobile software built into the Salesforce platform.

But Wait, There’s More

You’re Hired

Enjoying this content?

Sign up to be an AdExchanger Member today and get unlimited access to articles like this, plus proprietary data and research, conference discounts, on-demand access to event content, and more!

Join Today!