Disney resists active investor
January 12, 2023
Active investor Nelson Peltz has launched a fight for a board seat at The Walt Disney Company ‘to help turnaround the company that he said was “in crisis” due to failed succession planning, mounting streaming losses and overspending on th acquisition of 21st Century Fox.
Peltz’s Trian Fund Management has filed documents with the U.S securities regulator for his election as a director at Disney after the company denied him a board seat.
Disney’s shares rose more than 1 per cent in premarket trading, with some analysts pointing to Peltz’s past successes in bringing changes at firms that he has targeted. The stock had tumbled 39 per cent last year.
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