Tags: disney | nelson peltz | shareholder | activist | bob iger

Disney Attacks Investor Nelson Peltz's Motivations, Qualifications

Disney Attacks Investor Nelson Peltz's Motivations, Qualifications
Nelson Peltz (from left), Elon Musk, Nicola Peltz Beckham and Will Peltz (not pictured) arrive at the Los Angeles Premiere Of Vertical Entertainment's "Lola," Feb. 3, 2024. (Xavier Collin/AP)

Monday, 11 March 2024 12:04 PM EDT

Walt Disney responded Monday to billionaire Nelson Peltz and his Trian Fund's campaign to win two board seats in a video that attacks the activist shareholder's motivations and qualifications.

Trian's campaign, ahead of an annual meeting with board elections next month, describes Disney as an iconic company with irreplaceable entertainment properties that has underperformed, in terms of operating margins, return on invested capital and its money-losing streaming video operation.

It argues the current board fails to provide effective oversight and made its own case in a 133-page-long presentation last week.

Disney on Monday said Peltz has a long history of "attacking companies to the ultimate detriment" of shareholders. His quest to win a Disney board seat, it argues, "seems more about vanity than a belief in Disney."

Trian's other board candidate, former Disney Chief Financial Officer Jay Rasulo, was passed over for promotion nearly a decade ago, and "hasn't been employed since leaving Disney," the company says.

"Nelson Peltz and Jay Rasulo threaten to jeopardize the incredible progress the company has made since Bob (Iger) returned as CEO," Disney argues. "At this critical moment, we simply cannot let that happen."

Disney notes Peltz's connection to former Marvel Entertainment Chairman Ike Perlmutter, who it describes as a "disgruntled former employee" with a personal grudge against Iger.

Trian could not immediately be reached for comment.

In its own presentation, Peltz, the founder of Trian Fund Management, argued that Disney was slow to adapt to industry changes, including in streaming, made errors in its acquisition strategy and bungled succession planning.

The fund argues that Peltz and Rasulo will bring an "ownership mentality" to the boardroom.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
Walt Disney responded Monday to billionaire Nelson Peltz and his Trian Fund's campaign to win two board seats in a video that attacks the activist shareholder's motivations and qualifications.
disney, nelson peltz, shareholder, activist, bob iger
272
2024-04-11
Monday, 11 March 2024 12:04 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved