Nearly two months after losing an epic corporate battle to get on the board of the Walt Disney Company, Nelson Peltz is no longer an investor in the entertainment company.
Mr. Peltz, the billionaire head of the hedge fund Trian Fund Management, controlled about $3.5 billion in Disney stock, a vast majority of it owned by Ike Perlmutter, a former chairman of Marvel Entertainment.
Mr. Peltz has now sold his portion of those shares, a person familiar with the investment said, requesting anonymity to discuss confidential matters.
By selling his shares, Mr. Peltz is seemingly removing a thorn in Disney’s side.
Mr. Peltz, an activist investor, began criticizing Disney’s management under Robert A. Iger, the chief executive, early last year, pointing to the company’s streaming strategy, lagging stock price and succession planning.
Persons:
Nelson Peltz, Peltz, Ike Perlmutter, Robert A, Trian
Organizations:
Walt Disney Company, Fund Management, Disney, Marvel Entertainment