Two billionaire investors, including Nelson Peltz, have gained more influence at Disney.
Former Marvel executive Isaac Perlmutter has allowed Peltz’s Trian Fund Management to control his stake in the company, increasing Peltz’s holding to around 33 million shares.
With four times as many shares as before, Peltz now has more leverage in dealing with Disney CEO Bob Iger. (Trending: Judge Declines To Recuse From Trump 2024 Ballot Case)
$DIS Disney’s management is under pressure for board changes as activist investor Nelson Peltz gets the support of a large shareholder, Ike Perlmutter. Activist investor Nelson Peltz has gained the support of Isaac Ike Perlmutter in his recent push for multiple board seats at the…
— Middat Yildiz (@middatyildiz) October 30, 2023
Perlmutter, who became a major Disney shareholder after selling Marvel to the company, is pushing for Trian board candidates to join Disney’s board.
Peltz is expected to seek multiple seats after failing to win a board seat last year.
In a statement, Peltz wrote, “While I was a Disney employee, I was not comfortable publicly stating my views on the company and its performance.”
“As someone with a large economic interest in Disney’s success, I can no longer watch the business underachieve its great potential,” added Peltz.
If Disney does not add a Peltz supporter to the board, Peltz can pursue a fight to join at the company’s annual meeting in the spring.
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