Disney Boardroom Battle Was Not Targeted At Bob Iger, But Holding The Board Accountable, Says 13D Founder — Jeffrey Sonnenfeld Disagrees
Portfolio Pulse from Ananya Gairola
The boardroom battle at Walt Disney Co. (NYSE:DIS) was highlighted by Ken Squire of 13D Monitor on CNBC, emphasizing it was not aimed at CEO Bob Iger but was about holding the board accountable for long-term succession planning. Despite Nelson Peltz's proxy fight and nomination for the board, Disney emerged victorious, electing its slate of board members. Jeffrey Sonnenfeld disagreed with Squire's view, praising Disney's board strength. Elon Musk also weighed in, supporting Peltz's board nomination.
April 04, 2024 | 8:07 am
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The boardroom battle at Walt Disney Co. focused on accountability and succession planning, not directly targeting CEO Bob Iger. Despite activist investor Nelson Peltz's efforts, Disney's board remains unchanged, which could signal stability and long-term planning focus to investors.
The resolution of the boardroom battle without changes to Disney's board suggests a victory for current management and could be viewed positively by investors who value stability and long-term planning. The public support from figures like Elon Musk for Peltz's nomination, despite the outcome, highlights the significance of the event but ultimately, the unchanged board could reassure investors about the company's direction.
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