After calling off a proxy fight with Disney in February, activist investor Nelson Peltz is back with a renewed push for a seat on the company’s board — with some added firepower from former Marvel Entertainment chairman Ike Perlmutter.
Peltz and his firm Trian Fund Management previously called on Disney leadership to make changes to its corporate governance, strategy and operations and capital allocation. Specific asks have included developing a succession plan and aligning compensation with performance, cutting costs and reinstating Disney’s dividend by fiscal year 2025.
The latest challenge from Peltz and Perlmutter comes as Disney CEO Bob Iger continues to face a myriad of challenges, including a declining linear business and an unprofitable streaming platform.