Disney4me Posted October 30, 2023 Report Posted October 30, 2023 Disney stock is at its lowest it has been for the past decade. But early Monday morning it saw a momentary 0.61% increase. Cinderella Castle But why on Monday morning after a low-key, uneventful Disney weekend would we see a sudden rise in stock prices? It might have to do with the name Nelson Peltz being back in the media. After several months of not hearing this name associated with Disney, he’s found a way back into the Disney spotlight, and this time he’s looking for more than just one seat on the Walt Disney Company board. We heard about Nelson Peltz and his activist investor group, Trian Partners, back at the beginning of this year when he was seeking a spot on the Disney Board of Directors. He then believed, and most likely still does, that he could make a difference in the high-profile company’s business by making changes that would make Disney shares more valuable. ©New York Times Nelson Peltz of Trian Partners In February, Peltz called off his proxy battle when Bob Iger returned, replacing Bob Chapek as CEO, and announcing $5.5 billion in budget cuts and reductions of workers. Peltz hoped that these changes would suffice in bringing the company’s stock back up. But it has not improved, instead continuing to drop. ©Disney Now, according to the Wall Street Journal, Peltz and Trian have just acquired a bit more stock power to potentially make headway with Disney CEO Bob Iger. Former Marvel Entertainment executive, Isaac “Ike” Perlmutter, is standing up and backing Peltz. Previously, Perlmutter did not feel comfortable voicing his concerns while working with the company, but now that he is no longer with them, he is ready to speak out and side with Peltz. Perlmutter had sold Marvel to Disney for $4 billion and then continued to work for the company under the Marvel Entertainment department. ©Susan Walsh/Associated Press via The New York Times While Peltz hasn’t launched a new proxy battle yet (nominations for Disney’s board of directors don’t open until December), he is ready to do so if the board continues to resist adding him as a member, and he’s not just looking for one seat this time. Perlmutter has given Trian and Petlz control, under an arrangement, of his nearly $2.4 billion in shares (majority for Trian), now giving the company about 33 million shares of the Disney company. Certainly enough to start pulling some weight with the board of directors. ©CNBC Perlmutter has stated that he urges Disney’s board to “immediately welcome one or more Trian board candidates.” He “believes Peltz and Trian could help Disney improve its operations and strategy and achieve better results for shareholders.” Disney has not commented on this new development. Click here to see the full timeline of the Peltz-Disney drama. We’ll continue to watch as we near December for more updates. For more information about the situation, check out the following posts: Activist Group Believes Disney Has “Lost Its Way” And Pushes for Board Changes Disney Pushes Back Against Activist Investor and Defends CEO Bob Iger Full Timeline Revealed for Chapek’s Exit, Iger’s Return, and Disney’s Recent Corporate Battles In the meantime, keep following DFB for all your Disney news! CEO Bob Iger Responds to One of Disney’s Biggest Criticisms Join the DFB Newsletter to get all the breaking news right in your inbox! Click here to Subscribe! WE KNOW DISNEY. YOU CAN, TOO. Oh boy, planning a Disney trip can be quite the adventure, and we totally get it! But fear not, dear friends, we compiled EVERYTHING you need (and the things to avoid!) to plan the ULTIMATE Disney vacation. Whether you're a rookie or a seasoned pro, our insider tips and tricks will have you exploring the parks like never before. So come along with us, and get planning your most magical vacation ever! Save 25% on the 2023 DFB Guide to Walt Disney World Dining with code WDW2023. GET YOUR GUIDE NOW Do you think Peltz and his group should get a seat on the Disney board of directors? Let us know in the comments!The post NEWS: Bob Iger's Biggest Villain Has Just Gained a Controversial Ally first appeared on the disney food blog.View the full article Quote
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