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☆ Disney CEO Bob Iger is moving to cement his legacy by undoing his biggest mistake
▼ + stars: | 2024-11-16 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Here's what may be behind the move as Bob Iger looks to solidify his legacy. Disney's head-turning decision to share three years' worth of earnings guidance is a fascinating strategic move — and may be part of a bigger play from legacy-minded CEO Bob Iger. The Mouse House pleased analysts this week with its quarterly earnings report, as operating income rose 23% while revenue advanced by 6%. AdvertisementBob-ing and weavingDisney's earnings report and presentation were littered with comparisons to two years ago, which seems deliberate — if subtle. Advertisement"I would guess Bob Iger is feeling the pressure to demonstrate that he has set the company back on the right track," Nollen said.

Persons: Bob Iger, Tim Nollen, Robert Fishman, Iger, Bob, Bob Chapek, —, Chapek, what's, Nollen, it's Organizations: Disney, ESPN, Macquarie, Business, MoffettNathanson

☆ Disney's CEO plan sparks speculation on what the drawn-out Bob Iger succession means
▼ + stars: | 2024-10-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Disney said Monday it would name a new CEO in early 2026 and named James Gorman as board chairman. Bob Iger's previous succession plan failed, leading to his return as CEO in 2022. BI spoke to three people close to Disney who said their top questions on the succession announcement include: How will the timeframe impact the search? AdvertisementDisney's last Iger succession plan failedGorman, who effectively managed his own succession at Morgan Stanley, was named in August to chair Disney's succession planning committee. In late 2022, Disney dismissed Chapek and brought Iger back as CEO with a two-year contract, then extended through 2026.

Persons: Disney, James Gorman, Bob Iger's, —, Morgan Stanley, James Gorman —, shrugged, Gorman, Disney flubbed, Iger, Bob Chapek, Chapek, Will Iger, Gorman didn't, Dana Walden, Alan Bergman, Walden, he's, Josh D'Amaro, Ron DeSantis, Jimmy Pitaro, Pitaro Organizations: Disney, Service, Disney Entertainment, Fox, Florida Gov, ESPN, NFL Locations: Hollywood

☆ CNBC Daily Open: Concerns over high interest rates return, pressuring stocks
▼ + stars: | 2024-10-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The team pointed to high valuations and concentration in today's stock market as reasons for their forecast. [PRO] Ranking the Magnificent SevenThe Magnificent Seven bag of stocks — Alphabet , Amazon , Apple , Meta , Microsoft , Nvidia and Tesla — is responsible for most of the S&P 500's rally this year. Not so, according to a tech investor who owns all seven stocks.

Persons: Europe's, Goldman, Goldman Sachs, David Kostin, Bob Iger, Iger, Bob Chapek Organizations: New York Stock Exchange, CNBC, Nasdaq, Dow Jones, Treasury, Autonomous, Microsoft, Disney, Apple, Meta, Nvidia, Tesla

☆ Disney will name Bob Iger’s replacement in early 2026
▼ + stars: | 2024-10-21 | by ( Alex Sherman | Alex Sherman Covers Media For Cnbc. | ) www.nbcnews.com time to read: +3 min

Disney has tapped James Gorman to replace Mark Parker as the company’s next chairman, effective in January, as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026, the company said Monday. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker. Yuki Iwamura / Bloomberg via Getty Images fileParker will step down after nine years on the Disney board “to focus on other areas” of his work, according to a Disney statement. The board fired Iger’s handpicked successor, Bob Chapek, in November 2022 after a turbulent tenure that lasted less than three years. He and the board haven’t decided if Iger will extend his board tenure past 2026, said the people familiar.

Persons: James Gorman, Mark Parker, Bob Iger, Gorman, Parker, “, James Gorman’s, —, ” Iger, “ I’m, ” James Gorman, Yuki Iwamura, Elliott Hill, John Donahoe, Disney, Morgan Stanley, Ted Pick, Iger’s, Bob Chapek, Iger, Jimmy Pitaro, Josh D’Amaro, Dana Walden, Alan Bergman —, Nelson Peltz Organizations: Disney, Nike, Bloomberg, Getty, CNBC, ESPN, Disney Entertainment, Iger

☆ Disney says it will appoint Bob Iger's successor as CEO in early 2026
▼ + stars: | 2024-10-21 | by ( Will Martin | ) www.businessinsider.com time to read: +1 min

Disney said Monday that former Morgan Stanley CEO James Gorman will be its new chairman. It also announced plans to confirm a replacement for CEO Bob Iger in early 2026. Iger returned to Disney as CEO in 2022, two years after stepping down. AdvertisementDisney said Monday that former Morgan Stanley CEO James Gorman will become its new chairman, and announced plans to confirm a replacement for CEO Bob Iger in early 2026. "A critical priority before us is to appoint a new CEO, which we now expect to announce in early 2026," new chairman Gorman said in a statement.

Persons: Disney, Morgan Stanley, James Gorman, Bob Iger, Iger, —, Gorman, Bob Iger's, Bob Chapek, Iger's Organizations: Disney, Service

☆ Disney makes the right pick to lead board as it searches for next CEO
▼ + stars: | 2024-10-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Iger's CEO contract currently runs until Dec. 31, 2026. Gorman joined Disney's board earlier this year and in August was named the lead of Disney's succession planning committee, which is tasked with finding Iger's replacement. In Nelson Peltz's unsuccessful proxy fight earlier this year, the activist investor took issue with how Disney's board previously handled succession. The firm's new CEO, Ted Pick, has "reaped some of the great success of Gorman," Jim added. Morgan Stanley shares soared to all-time highs last week after it reported top and bottom-line beats for its third quarter .

Persons: Bob Iger, James Gorman, Morgan Stanley, Mark Parker, Disney, Gorman, Iger, Bob Chapek, Nelson Peltz's, Jim Cramer, Jim, Ted Pick, Gary Hershorn Organizations: Disney, Nike, Wall, DIS, Club, CNBC, Hulu, ESPN, Magic, Walt Disney World, Corbis, Getty Locations: Orlando , Florida

☆ A boba business storm is brewing, and a 'Shang-Chi' star is in the middle of it
▼ + stars: | 2024-10-15 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

"Shang-Chi" star Simu Liu called out two boba tea entrepreneurs who appeared on an episode of "Dragons' Den." They were promoting their new drink, which they said was healthier than regular boba tea. AdvertisementSimu Liu is in the middle of a brewing business feud over a popular Asian drink. When asked if he liked the drink, Liu, who joined the show as a panelist in its 19th season, said, "I thought it was fine." The global boba tea industry — or bubble tea as it is known in Asia — is estimated to be worth billions.

Persons: Liu, —, Chi, Sébastien Fiset, Jess Frenette, Manjit Minhas, there's, Fiset, Bobba, Winniedapoo, boba, Instagram, Frenette, Liu's, it's, Bob Chapek Organizations: Service, Québec, NBC, Ventures, LinkedIn, American Pacific, CBC Gem, Allied Market Research, Business Locations: Markham, Canada, Taiwan, Bobba, Asia —

Here's a rapid-fire update on all 32 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. AMD shares have caught a bid in recent days, but they're still cheap considering the growth of its AI processors. Broadcom : Investors who don't own any Broadcom yet should consider starting a position here, Jim said. Although it's tempting to offload shares, Jim said to stick with Honeywell for now because there's huge value in individual businesses like aerospace. There's little negative to say about this portfolio stock.

Persons: Jim Cramer's, Jim, Apple, haven't, it's, that's, he'll, Bob Iger, Bob Chapek, Larry Ellison, Biogen, Eli Lilly, Lowe's, Vimal Kapur, We'd, Linde, Lilly, Morgan Stanley, Goldman Sachs, It's, Jensen Huang, Kamala Harris, Republican Donald Trump, CrowdStrike, Palo, — we're, we're, Brian Niccol, Sands, Stanley Black, Decker, Wells, Charlie Scharf's, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Abbott Laboratories, Abbott Labs, AMD, Amazon, Web, Broadcom, VMWare, Federal Reserve, Costco Wholesale, Coterra, DuPont, New York Times, Oracle, GE Healthcare, GE, Honeywell, Linde, Microsoft, Nvidia, Republican, Palo Alto Networks, Palo, Procter & Gamble, Procter, Gamble, Constellation Brands, Modelo, Stanley, TJX, Marshalls, Jim Cramer's Charitable, Traders, New York Stock Exchange, AFP, Getty Locations: Nvidia's, San Francisco, China, Dover, United States, industrials, OpenAI, Palo Alto, Wells Fargo

☆ Actor Gina Carano wants Pedro Pascal and Bear Grylls to testify in her case against Disney over her 'Mandalorian' role
▼ + stars: | 2024-07-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +1 min

Gina Carano wants Pedro Pascal and Bear Grylls to testify in her lawsuit against Disney. She says Disney unjustly fired her from "The Mandalorian" because of her personal views. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPedro Pascal, Bear Grylls, and former Disney CEO Bob Chapek are among the big names who could be forced to testify in Gina Carano's ongoing lawsuit against the House of Mouse.

Persons: Gina Carano, Pedro Pascal, Bear Grylls, —, Bob Chapek, Gina Carano's, Carano, Disney Organizations: Disney, Service, Business Locations: California

☆ Gen X is in charge now and boomers are being shown the door
▼ + stars: | 2024-07-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Harris is 59 and was born October 20, 1964 — putting her just weeks outside the Gen X range which is generally thought to span 1965 to the early 1980s. His successor has not been confirmed, but one name being floated is his Gen X lieutenant Stephanie Pope. Could the House of Mouse soon have its first Gen X leader? The picture is not completely clear on how Gen X bosses differ from their predecessors on issues such as remote work and the role of AI in the workplace. AdvertisementIt won't be long, though, until Gen X has a majority grip over power.

Persons: —, Gen, Joe Biden's, Kamala Harris, Harris, Xer —, XCX, Joe Biden, Justin Sullivan, boomer Barack Obama, Donald Trump, Sen, JD Vance, Bush, Clinton, Biden, Obama, John McCain, Mitt Romney, HSBC's, Noel Quinn, Georges Elhedery, Xer, David Calhoun, Stephanie Pope, Dave Calhoun, Aaron Schwartz, Gen X, Ron Vachris, Craig Jelinek, Macy's, Tony Spring, Xers, Jamie Dimon, David Solomon, Goldman Sachs, Bob Iger, boomer Bob Chapek, Iger, Brendan McDermid, Tim Cook, Steve Jobs, Jensen Huang, Dimon, Jenn Piepszak, Troy Rohrbaugh, X'ers, JPMorgan Chase, Alex Brandon, Mouse, We'll Organizations: Service, Democratic Party, Business, Democratic, Trump, Boeing, Gen, Gen X Costco, Microsoft, Google, Walmart, Tesla, ExxonMobil, JPMorgan, Blackstone, septuagenarians, Disney, Apple Locations: BlackRock, Silicon Valley, America

☆ Companies failed to solve injustice and now they are giving up on the era of activism
▼ + stars: | 2024-07-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Corporate America gave social activism a go. And sales of Bud Light have taken a hit ever since. Bud Light didn’t handle fallout well — it capitulated to the angry mob and dropped Mulvaney even as she faced a barrage of threats. It caught fire as right-wing media fueled the swirl of negativity around Bud Light, framing it as “wokeism” gone amok. On Thursday, the Guardian reported that the Bud Light boycott was fueled in part by the right-wing activist Leonard Leo.

Persons: CNN Business ’, Bud Light, America John Deere, Kara Swisher, ” Let’s, George Floyd, ” —, Larry Fink, We’d, Reagan, That’s, Disney’s, Bob Chapek, Ron DeSantis, influencer Dylan Mulvaney, ”, Bud, Leonard Leo, Leo Organizations: CNN Business, New York CNN — Corporate America, Tractor, Pride, CNN, BlackRock, Business, Corporate America, Florida’s Republican Gov, Guardian, Bud Light, Anheuser, Busch, Federalist Society, America Locations: New York, America

☆ Disney Has a Problem: Kids Are Watching YouTube Instead of Disney+
▼ + stars: | 2024-07-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +12 min

Kids increasingly prefer to zone out for hours watching free short-form videos instead of full-length TV episodes and movies. In April, Nielsen estimated, kids 2 to 11 watched three times as much YouTube as Disney+ content. Kids watching Disney clips on YouTube may have no need for Disney+. 5 spot for kids' entertainment on YouTube in 2023, according to Tubular, a social video analytics company. Kids preferring short-form videos on YouTube over full-length episodes and movies is a problem that Disney doesn't seem to be able to solve.

Persons: Bob Iger, Bob Chapek's, Iger, Taylor Swift, Nelson Peltz, Disney, Alexia Raven, it's, Gen Alpha, —, Liz Huszarik, Nick Macknight, King, Aladdin, Justin Timberlake, Zendaya, Ariel, Bernstein, Discovery's Max, Florida's Gov, Ron DeSantis, Macknight, Lucia Moses Organizations: Disney, Epic Games, Investors, Disney Channel, Nielsen, YouTube, Warner Bros, Discovery, Media, Comcast, Paramount, Google, Netflix, Moonbug Entertainment, Disney's, Hulu, Marvel, Lucasfilm, Florida's, Pixar, Dallas, Business Locations: WarnerMedia, Dallas

☆ Proxy advisor backs activist Politan nominees in scathing Masimo report
▼ + stars: | 2024-07-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Proxy advisory firm Glass Lewis on Thursday recommended that shareholders of Masimo , the medical technology firm best known for its Apple Watch patent litigation, elect dissident Politan's two nominees, Bill Jellison and Darlene Solomon. Masimo's board includes Kiani, former Disney CEO Bob Chapek and Politan managing member Quentin Koffey, who overwhelmingly won the election last year. Glass Lewis tacitly endorsed that criticism in its report, writing that the company displayed "de minimus responsibility" and "poor governance." Alongside its larger peer Institutional Shareholder Services, though, Glass Lewis reports are considered highly important to passive investors. Glass Lewis responded to RTW with an offer to meet on July 8, shortly after Politan's allegations were publicized in an SEC filing.

Persons: Joe Kiani, Glass Lewis, Politan's, Bill Jellison, Darlene Solomon, Kiani, Bob Chapek, Quentin Koffey, Kiani —, Politan, Jellison, RTW, Christopher Chavez, RTW's Organizations: Enercare, Masimo, Apple Watch, CNBC, Disney, Services, ISS, Kiani, SEC Locations: Toronto, Canada, Solomon, Politan

☆ These employees moved across the country for work, then Disney canceled the project. Now they’re suing.
▼ + stars: | 2024-06-19 | by ( Natasha Chen | ) edition.cnn.com time to read: +3 min

CNN —Two employees are suing the Walt Disney Company, saying the company moved their jobs from California to Florida, only for Disney to cancel the project and move them back, hurting them financially and emotionally. But in May 2023, after CEO Bob Iger returned, the company canceled the $1 billion Lake Nona office complex amid a legal and political battle with Republican Gov. The plaintiffs, Maria De La Cruz and George Fong, both work for Disney’s product design division. The complaint alleges that Disney misrepresented and concealed its true plans for the Lake Nona project, hurting – financially and otherwise – at least 250 employees who had made the move from California to Florida. De La Cruz, Mr. Fong and many others dutifully moved to Florida because they love their jobs, they love the people they work with, and they love Disney,” Attorney Jason Lohr said.

Persons: They’re, Bob Chapek, Bob Iger, Ron DeSantis, Maria De La Cruz, George Fong, De La Cruz, Fong, Lohr Ripamonti, Disney, –, Disney “, De, Ms, Jason Lohr Organizations: CNN, Walt Disney Company, Disney, Republican Gov, Lohr, Superior Court of, Lake, Florida Locations: California, Florida, Nona, Superior Court of Los Angeles, De La, Southern California, Central Florida

☆ Disney and DeSantis-backed board ‘come to their senses’ in new agreement
▼ + stars: | 2024-06-12 | by ( Natasha Chen | ) edition.cnn.com time to read: +7 min

“Walt Disney World is inextricably intertwined in the fabric of the state of Florida. And the success of Walt Disney World is the success of Central Florida, and vice versa,” he said. The Disney World resort is currently home to four theme parks and two water parks. It’s been 26 years since Disney has opened a new theme park in Florida,” said Dennis Speigel, owner and founder of International Theme Park Services, a global consultant for theme park projects. Orlando is the Mecca of the theme park industry, and for it to function, Disney and Florida have to function together.”

Persons: Disney, Ron DeSantis, “, ”, Aubrey Jewett, Brian Aungst Jr, Walt, Jeff Vahle, CFTOD, It’s, Dennis Speigel, DeSantis, Bob Chapek, Walt Disney, ” Jewett, Reedy, Jewett, Speigel Organizations: CNN, Disney, Walt Disney, University of Central, Walt Disney World, Walt, World, Park, Universal, Improvement, ” Locations: Florida, Central Florida, University of Central Florida, Reedy, Disney, Orlando, Mecca

☆ Disney technology executive Aaron LaBerge to leave company for personal reasons
▼ + stars: | 2024-04-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

The Walt Disney company logo is displayed on the floor of the New York Stock Exchange during morning trading on Dec. 1, 2023. Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said. At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.

Persons: Aaron LaBerge, LaBerge, He'll, He's, Bob Chapek, Kevin Mayer, Christine McCarthy, Alan Horn, Alan Braverman, Zenia Mucha, Sean Bailey, Aaron, Jimmy Pitaro, Dana Walden, Alan Bergman, Chris Lawson, Paul Allen Organizations: Walt Disney, New York Stock Exchange, Disney Entertainment, ESPN, PENN Entertainment, ESPN Bet, Disney, Hulu, Warner Bros . Discovery, Fox, Walt Disney Studios, Walt Disney Pictures, ESPN BET, Company, Starwave

☆ Disney's parks are its top money maker — and it plans to spend $60 billion to keep it that way
▼ + stars: | 2024-04-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +12 min

It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.

Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge

☆ How Bob Iger vanquished a corporate raider in Disney’s most consequential boardroom battle in decades
▼ + stars: | 2024-04-04 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

But over the last several months, the Disney chief made significant moves that took the wind out of those sails. Regardless, the course of action taken by Iger had the same effect, pouring cold water on Peltz’s public grievances. On streaming strategy: Iger moved to take full control of Hulu in a major deal with Comcast. Last week, Disney merged the service into Disney+, putting both libraries into a single app in a move once considered unthinkable. Disney investors overwhelmingly moved to elect Disney’s slate of directors, rejecting Peltz and former company exec Jay Rasulo.

Persons: Bob Iger, Nelson Peltz, shoring, Peltz, “, Iger, ” Iger, Ron DeSantis, ”, Bob Chapek, Morgan Stanley, James Gorman, Jay Rasulo, ” Trian, It’s Organizations: New York CNN, Disney, ESPN, Florida Gov, Hulu, Comcast, CNBC, Google, Partners, Company, Dow Jones Industrial Locations: New York, Magic, —, refocusing

☆ Disney beat back activist investor Nelson Peltz. Now the real work begins
▼ + stars: | 2024-04-04 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

That would mark a milestone for the company, which launched Disney+ on Nov. 12, 2019. It would be the first time Disney showed it can make money from Disney+, Hulu and ESPN+. Disney will need to sustain and grow streaming profit to justify Iger's five-year-old strategy to go "all in" on the segment. Disney has already offered ESPN+, a sports streaming service that has some but not all of ESPN's content. Trian Partners' Nelson Peltz, who failed to join Disney's board Wednesday after securing just 31% of the vote, publicly questioned what he has called Disney's "woke" content strategy.

Persons: Bob Iger, Sun Valley , Idaho David A, Iger, Disney, they've, Cowen, Doug Creutz, Needham, Laura Martin, Gabby Jones, David Greenbaum, Sean Bailey, Alan Bergman, Indiana Jones, Nelson Peltz, Peltz, shouldn't, Bob Chapek, He'll, Bergman, Jimmy Pitaro, Josh D'Amaro, Dana Walden, They've, Cowen's, you've, That's, it's, — CNBC's Sarah Whitten, Needman's Martin Organizations: Disney, Allen & Company Sun Valley Conference, Grogan, CNBC Disney, Disney Disney, Hulu, ESPN, Co, Warner Bros . Discovery, Fox, CNBC, Athletic, Bloomberg, Getty, Marvel, Star Wars, Searchlight, Walt Disney Motion, Disney Entertainment, Century Fox, Sony, Disney's Marvel Studios, Trian Partners, Financial Times, Resorts, Iger Locations: Sun Valley , Idaho, Brooklyn , New York, Iger, Parks, Disney

If you had the opportunity to hear activist investor Nelson Peltz, the defeated candidate for the Disney board, you did not get a definitive answer, as much as I pressed. In my CNBC interview with Peltz on Thursday, he assured us that he would be back if Iger didn't deliver on his promises. Iger talked about the board's succession committee, which former Morgan Stanley CEO James Gorman and now Disney board member, is on. They're confident that they'll pick the right person at the right time," Iger said on CNBC . I most feared the blowout in Disney stock in a fit of pique and right now I am not seeing that.

Persons: Walt Disney, Nelson Peltz, Peltz, Bob Iger, Iger, Bob, they'll, Jim, weren't, Iger's, Bob Chapek, Disney, Morgan Stanley, James Gorman, Chapek, Ike Perlmutter, it's, It's, Jim Cramer's, Jim Cramer, Joe Raedle Organizations: Walt, Disney, CNBC, Iger, Marvel Entertainment, ESPN, Fox, Warner Bros ., Club, Apple, Walt Disney World, Getty Locations: Orlando , Florida

☆ Disney's Iger says Peltz proxy battle was a 'distraction,' board is focused on picking his successor
▼ + stars: | 2024-04-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

Iger noted that the activism has not changed Disney's succession process. Chapek held the post for more than two years before Iger returned to it. "Obviously, we all learn from the past, and we're prepared for this process to be successful," Iger said. In an interview with CNBC on Thursday, Peltz said he did not have any personal vendetta against Iger but wanted to ensure the company had a leadership plan in place. "The only issue I had with Bob was the succession plan, which again is at the feet of the board," he said.

Persons: Nelson Peltz's, Bob Iger, Iger, Bob Chapek, Chapek, we're, Peltz, Bob Organizations: Disney, CNBC

☆ Bob Iger may prevail in Disney’s boardroom showdown, but the battle has not left him unscathed
▼ + stars: | 2024-04-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The battle for the future of Disney is about to reach its epic conclusion. Nelson Peltz, founder and chief executive officer of Trian Fund Management, has continually criticized Disney CEO Bob Iger. The forces that have tormented Iger will be banished to the shadows, exiled outside of the Magic Kingdom for now. The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World. The future of Disney is up for grabs in the proxy-fight between Iger and Peltz.

Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Rasulo, Disney’s “, Marco Bello, Iger, Bob Chapek, ” Barton Crockett, CNN’s, Samantha Delouya, George Lucas, Laurene Powell Jobs, Morgan, Jamie Dimon, Walt, Roy Disney, Abigail Disney, Ike Perlmutter, Trian, they’ll, Walt Disney, Mickey Mouse, Joe Burbank, ”, it’s, King, Hollywood, “ Iger Organizations: New York CNN, Disney, Trian, Management, Netflix, Trian Fund Management, Bloomberg, Rosenblatt Securities, “, Former Marvel Entertainment, Services, Magic Kingdom, Magic, Walt Disney World, Orlando Sentinel, Tribune, Service Locations: New York, Iger

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ Disney's Bob Iger has won the long proxy battle against Nelson Peltz
▼ + stars: | 2024-04-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

It's a victory for CEO Bob Iger against activist investor Nelson Peltz. AdvertisementDisney CEO Bob Iger has officially prevailed in his battle against activist investor Nelson Peltz. Disney had been expected to prevail in the Peltz proxy battle. AdvertisementThe battle, though, likely prompted Iger and the board to redouble its focus on the next Disney CEO. "Regardless of the outcome of today's vote, Trian will be watching this company's performance," Peltz said at the meeting before the decision.

Persons: Bob Iger, Nelson Peltz, —, Peltz, Jay Rosulo, Horacio Gutierrez, Disney's, Maria Elena Lagomasino —, Iger, Disney, Neuberger Berman, Trian, Gen Z, Alpha, Bob Chapek, Iger's, Jason Schloetzer Organizations: Disney, Service, Trian Partners, CNBC, California Public Employees, Epic Games, ESPN, Georgetown University's McDonough School of Business

☆ The battle over Disney’s future is about to be decided in a high stakes board vote
▼ + stars: | 2024-04-02 | by ( Hadas Gold | Samantha Delouya | ) edition.cnn.com time to read: +8 min

Two competing slates of board seats are now up for a vote against Disney’s. Peltz has criticized Disney’s recent theatrical flops and said the company should reach “Netflix-like margins” with its Disney+ streaming service, among other issues. If Peltz is successful, he and Rasulo could gain up to two seats on the board, displacing Disney’s picks. More than 35% of Disney’s shares are held by these individuals, who could seriously sway the vote. The influential advisory firms Institutional Shareholder Service and Egan-Jones have also thrown their support behind Peltz for at least one seat on the board.

Persons: Nelson Peltz, Jay Rasulo, Peltz, Ike Perlmutter, Bob Iger, ” Barton Crockett, Disney, ” Trian, Rasulo, Iger, Bob Chapek, Peltz —, —, It’s, ” Peltz, Perlmutter, ”, “ They’ve, ’ ” Crockett, Anna, Elsa, Ludwig Von Drake, “ Disney, George Lucas, Jamie Dimon, Michael Eisner, Laurene Powell Jobs, Abigail E, they’ve, ” Jessica Reif Ehrlich, “ Nelson Peltz, Neuberger Berman, Egan, Jones, ” Crocket, CNN’s Liam Reilly, Krystal Hur Organizations: CNN, Disney, Magic Kingdom, Disney’s, Trian Fund Management, Blackwells, Marvel, Netflix, Rosenblatt Securities, ESPN, ABC, Google, JPMorgan Chase, BofA Securities, California, Service Locations: Trian

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