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Disney is always in a state of becoming, and its leadership team is no exception to the rule. Now, it looks like a major investor is after a seat on Disney’s board!
Disney Leadership
Who are the people who make up the leadership team behind the magic of the Walt Disney Company? By now surely almost every Disney fan knows that CEO Bob Iger returned to the Walt Disney Company to replace former CEO Bob Chapek. In fact, his contract has been extended.
However, the typical Disney fan might be less familiar with Disney’s Board of Directors. These are the people who do the very important work of using their knowledge and experience to guide and drive long-term value to the company.
The other Board members include its Chairman Mark G. Parker and members Mary T Barra, Safra A. Catz, Amy L Chang, Francis A Desouza, Carolyn N. Everson, Michael B.G. Froman, Maria Elena Lagomasino, and Derica W. Rice. You might associate some of these names with companies such as MasterCard, Coca-Cola, Meta, Cisco, CVS, etc.
Is a Board Member Shake-Up Coming
It is possible for The Walt Disney Company to add new members to its board. The next window for shareholder nominations runs from December 5 to January 4.
And now, it seems highly likely that one of Disney’s top investors will be looking for a seat on Disney’s board! According to the Wall Street Journal, Activist investor Nelson Peltz is throwing his hat back into the ring.
Nelson Peltz’s Train Fund Management has reportedly increased its stake in Disney to nearly 30 million shares. Train is one of Disney’s largest investors. In fact, Train’s stake is worth an estimated $2.5 billion.
In fact, it is expected that Peltz will request multiple board seats. One of those will be for himself if everything goes as anticipated.
This is not the first time Peltz has been after a seat on Disney’s board. He made a 2023 proxy attempt to gain a seat. However, Iger argued that he lacked expertise and recommended shareholders discard their ballots.
Peltz ended his 2023 proxy fight in February, shortly after Iger announced a large wave of job cuts. Disney reacted to his decision stating, “We are pleased that our Board and management can remain focused without the distraction of a Proxy contest.”
Nelson Peltz is expected to push for a seat on Disney’s Board.
It is known that Peltz did not support the reappointment of Bob Iger in 2022. If Peltz chooses to push for a seat for himself again, his presence on the board would certainly make for an interesting dynamic.
Do you think Peltz is after a seat on the board? Do you think his run will be successful? Let us know your thoughts in the comments. And, as always, feel free to pass the story along to others who love to follow Disney news.
Source: Wall Street Journal
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