[ Disney and its current CEO, Bob Iger, have secured the backing of Iger’s onetime boss, former Chairman and CEO Michael Eisner. In a statement posted to social media, Eisner didn’t name Nelson Peltz, whose Trian Fund Management is mounting an offensive to win two seats on Disney’s board at the April 3 annual shareholder … Read more
[ ISS, the most influential proxy advisory service, has recommended shareholders vote to put Trian’s Nelson Peltz on Disney’s board, saying the activist investor, “with his considerable experience on other boards and fiduciary duties owed to a large shareholding group, appears best positioned to bring a shareholder perspective to the board.” “The events leading up … Read more
[ George Lucas has come out in support of Disney and CEO Bob Iger as the company wages a bitter proxy fight against activist investor Nelson Peltz, who is making a run for two seats on the company’s board. In a statement issued this morning, Lucas said: “Creating magic is not for amateurs. When I … Read more
[ Proxy advisory firm Glass Lewis has recommended that Disney shareholders withhold votes for all board candidates except the company’s own. A thumbs up from the influential firm, which advise stockholders how they should vote on various matters at annual meetings, is a win for Disney. Glass Lewis cited “measurable shifts” in Disney’s strategy since … Read more
[ Disney shares were up 2% at mid-day Monday, extending their recent rally, as the company renewed its attacks on activist investor Nelson Peltz. In a video posted to VoteDisney.com criticizing Peltz and his firm, Trian Fund Management, Disney said the investor’s pursuit of board seats for himself and ex-Disney CFO Jay Rasulo “seems more … Read more
[ After skidding to multi-year lows in late-2023, Disney stock has rebounded more than 20% thus far in 2024 as two activist investment firms have launched a proxy fight. The stock finished Thursday trading at $110.18, up a fraction. It started the year at $90.10, putting its gains at 22% for the year to date. … Read more
[ Nelson Peltz and Jay Rasulo, who are fighting to get themselves elected to the Disney board against the company’s wishes, said today they’re not out “to fire the CEO.” Peltz of Trian Partners has been publicly bashing the company and Iger for a year. Rasulo hasn’t taken the stage publicly until today as the … Read more
[ As Disney’s April 3 shareholder showdown approaches, activist Nelson Peltz has released a more detailed set of arguments against the company’s board of directors, which he calls the “root cause of underperformance” at Disney. In a series of graphs and bullet points coming to over 133 pages, the Trian Partner founder attempt to build … Read more
[ In two open letters to shareholders of the Walt Disney Company, grandchildren of Walt Disney and his brother Roy O. Disney came out in support of CEO Bob Iger and current management, which is being assailed by two investment firms trying to change the makeup of the company’s board. “From Mickey and Minnie, to … Read more
[ UPDATED with Disney letter to shareholders. In a letter to shareholders Wednesday, the Walt Disney Co. said it is better off “with Bob Iger at the helm” and without board representatives from activist firms like Nelson Peltz‘s Trian Fund Management. “Delivering ambitious growth plans requires leadership with a deep understanding of the company’s current … Read more
