Sneaky Disney Wants to Keep FAILING...
2,841Bob Iger is teaming up with another group of investors, ValueAct, to try and keep Nelson Peltz, Ike Perlmutter, and former Disney CFO Jay Rasulo off the board. If Peltz wins, he's going to FORCE Disney to change. If Iger wins, expect Disney to keep the status quo indefinitely.
Additional Context:
Disney, led by CEO Bob Iger, has secured support from investment firms ValueAct and Blackwells Capital in a proxy battle against billionaire investor Nelson Peltz and his Trian Fund Management company. Peltz had been pushing for a position on Disney's board, claiming that the company had underperformed compared to its potential. However, Disney opposed his efforts and ultimately won the support of ValueAct and Blackwells Capital.
As part of the agreement, ValueAct will back the board candidates recommended by Disney at the upcoming spring board meeting. This move is seen as an endorsement of Disney's current management and strategic direction under Iger. ValueAct's Co-CEO, Mason Morfit, expressed excitement about partnering with Iger and Disney's board to help create long-term sustainable shareholder value.
Blackwells Capital, another Disney investor, announced its intention to nominate three candidates to the Disney board, highlighting their qualifications and expertise in supporting Iger's efforts constructively. This response from Blackwells Capital reflects a preference for stability and continuity in Disney's leadership, rather than the changes proposed by Peltz.
Overall, these developments indicate a solidification of support for Disney's current leadership and strategic direction, amidst challenges from external parties seeking to influence the company's governance and management.
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