Bob Iger Vs. Nelson Peltz: A Former Marvel Boss Joins War Over Disney Board
Portfolio Pulse from Neil Dennis
Activist investor Nelson Peltz, with the support of former Marvel boss Ike Perlmutter, is making a second attempt to gain seats on Disney's board. Perlmutter, whose shares are controlled by Peltz's Trian Fund Management, is critical of Disney's recent performance, citing a $70 billion loss in shareholder value. CEO Bob Iger, who returned after Bob Chapek's short tenure, has made strides in reducing debt and reinstating dividends. Blackwells Capital's Jason Aintabi supports Iger, opposing Peltz's approach. Despite a 10% rally in November, Disney's shares are down 40% over three years.
December 01, 2023 | 6:43 pm
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Nelson Peltz and Ike Perlmutter are challenging Disney's board, aiming to address the company's underperformance. CEO Bob Iger has made positive changes, but the stock has seen significant declines over the past three years.
The ongoing boardroom battle, with high-profile investors like Peltz and Perlmutter involved, creates uncertainty for Disney's future direction. This uncertainty, coupled with the historical stock performance, could lead to short-term negative sentiment among investors. However, Iger's track record of improving financials may mitigate some concerns.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90