Disney Board Has Been 'Too Deferential' Towards CEO Bob Iger, Says Expert: Highlights 21st Century Fox Purchase 'Which Was Really Not A Good Acquisition'
Portfolio Pulse from Benzinga Neuro
Media industry veteran Tom Rogers criticized Disney's board for being 'too deferential' towards CEO Bob Iger, particularly highlighting the acquisition of 21st Century Fox as a poor decision. The remarks come amid a proxy war involving Iger and activist investor Nelson Peltz, who seeks a board position. Despite Iger's support, Rogers suggests the board could benefit from new voices. Disney's stock saw a slight increase, closing 0.48% higher at $119.93.
March 27, 2024 | 12:12 pm
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Tom Rogers criticized Disney's board for being too deferential towards CEO Bob Iger, particularly criticizing the 21st Century Fox acquisition. Amid a proxy battle with Nelson Peltz, the situation suggests potential governance changes. Disney's stock closed slightly higher at $119.93.
The criticism from Tom Rogers and the ongoing proxy battle with Nelson Peltz highlight governance concerns at Disney, which could lead to changes in the board's composition or strategy. However, the stock's slight increase suggests the market is currently reacting neutrally. The situation's outcome could have a more significant impact on the stock's future direction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100