Rachel Warren

I think it's important to look beyond the market response into the actual numbers.

I think so.

And I agree with Lou.

I think you have to look at both tenures together.

I mean, you think of that first one right from 05 to 2020.

I mean, there was really a series of very transformative acquisitions that formed the company we know today.

You think of the acquisitions of Pixar, Marvel, Lucasfilm.

You know, this really built that modern Disney content engine that we know.

I mean, Iger grew Disney's market cap from about $56 billion to more than $230 billion during that initial run.

And then you look in these last few years, you know, he returned in late 2022 to replace Bob Chapek.

Really, that second stint has been focused on stabilizing the company.

He implements about $5.5 billion in cost cuts, really working to achieve streaming profitability, a lot of challenges that the company has faced during that time, including the Hollywood labor strikes.

I think that a lot of the last few years has been more about stabilization and some of the growth that investors had come to expect in prior years.

One thing I'll note, Iger is planning to remain senior advisor and board member through the end of 2026 to mentor new leadership.

Presumably, that might help the company to avoid some of the mistakes, if you will, that occurred during the JPEG era.

I think that's something that investors should feel comfortable

you know, pleased with as they're looking at this transition.

I think it's a much better thought out, well-planned, orderly transition than perhaps we saw before.

Yeah, there's certainly a theme that we're seeing with a lot of these fast, casual chains.

For Chipotle, transactions in Q4 dropped by about 3.2%.