Nelson Peltz is seeking board seats at Disney again

October 09, 2023 07:46 AM PDT | By Invezz

Nelson Peltz is seeking board seats at Disney again — Image source: Invezz

Peltz now has an over $2.5 billion stake in Disney

The activist investor has bought another 30 million shares plus of the mass media company. Trian Partners – his asset management firm now has a stake worth more than $2.5 billion in Disney.

Peltz is pushing for multiple board seats – one likely for himself. Nomination for the board seats at the New York listed firm is scheduled to start on December 5^th, as per the Wall Street Journal.

What is Peltz's actual argument for Disney? Is he a "maximize profits at all cost" guy or is he in it to make changes for the fans? Assuming the former given, ya know, money.
— Avery (@baltinerdist) October 9, 2023

Note that the billionaire wanted to be on the board of Walt Disney Co in February as well.

But he ditched the proxy fight later saying its management “plans to do everything we wanted them to do” and that “we will be watching”.

Disney shares have continued to struggle

Trian Partners has not so far commented on the WSJ report today. Peltz is going after Disney again perhaps because CEO Bob Iger has failed to breathe new life into “DIS” in recent months.

Shares of the multinational are currently trading at a level not seen since the peak of the pandemic.

On Monday, anonymous sources also told the Wall Street Journal that Walt Disney Co was “caught by surprise” by the return of Nelson Peltz. Him and the Chief Executive are not scheduled for a meeting, they added.

The news arrives less than a month after Disney revealed plans of investing about $60 billion in parks and cruises as Invezz reported here. Wall Street currently has a consensus “overweight” rating on Disney shares.

The post Nelson Peltz is seeking board seats at Disney again appeared first on Invezz.

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