New York CNN —Activist shareholder Nelson Peltz’s Trian Fund Management has launched a new proxy fight against Disney, just months after backing off from its earlier push after returned chief executive Bob Iger announced a vast cost-cutting plan for the media conglomerate.
Trian declined to comment on how many seats it is seeking on Disney’s board, but said in the release that Disney has turned down its request for representation, including for Peltz.
Trian’s reignition of its proxy fight comes a day after Disney revealed a shuffle to its board, with Morgan Stanley CEO James Gorman and former CEO of Sky Jeremy Darroch to join as new directors.
Peltz in January launched a bid for a seat on Disney’s board after the company fired Bob Chapek in November 2022.
We will be watching,” Peltz said on CNBC shortly after the conclusion of Iger’s TV interview in February, where the chief executive laid out his cost-cutting plan, addressed right-wing criticism of Disney and his decision to return to the company.
Persons:
Nelson Peltz’s, Bob Iger, ” Trian, Trian, Trian’s, Morgan Stanley, James Gorman, Sky Jeremy Darroch, ” “, ” Disney, Peltz, Bob Chapek, Chapek, Iger’s, Iger, “, ” Peltz, Disney, ” Iger, I’ve, ” — CNN’s Oliver Darcy
Organizations:
New, New York CNN, Management, Disney, Peltz, Sky, Walt Disney Company, Disney Parks, CNBC
Locations:
New York, Florida