With Nelson Peltz angling for a seat on Disney’s board, the company today blasted the activist investor, his firm Trian Group, and his son, Matthew Peltz, whom Trian is proposing as a possible alternate candidate.
14.01.2023 - 02:47 / dailyrecord.co.uk
Brooklyn Beckham's father-in-law Nelson Peltz has made a bid for a seat on the board of Disney after accusing the company of wasting money.
Nelson, 80, a billionaire investor who is vying to overhaul Disney after accusing it of wasting money over the last few years. The father-of-three, who is worth $1.4billion (£1.1billion), accused the company of "poor governance".
The businessman owns 9.4 million Disney shares via his company Trian. They are valued at $900 million - which is roughly a 0.5% stake.
His firm filed documents with the Securities and Exchange Commission on Thursday, publicly nominating Peltz as a director candidate. Taking to social media, Peltz promised to bring "leadership mentality" to the Disney boardroom, which is currently ruled over by Bob Iger.
In an interview on CNBC's Squawk Street, the businessman acted casually when asked about his intentions for Disney.
"I just need to speak reasonably to these people and explain to them where they went wrong or what opportunities they’re missing," he said.
Disney is yet to respond publicly to his request, but Peltz claims they offered him a "watching" board seat but he turned down their offer. He added: "They said, 'You can be in the meetings.' So they want my input on operations but they don't want my input on corporate governance.
"That's why they don't want me to have a vote that says that they believe even that I have something to add."
On Wednesday, Peltz's firm delivered a presentation saying Disney is 'a company in crisis' whose shares have tumbled 39 percent in the past 52 weeks and are trading at an eight-year low.
They are calling on the company to cut costs and turn a profit at its Disney+ streaming business, which has been losing money even as it expands.
With Nelson Peltz angling for a seat on Disney’s board, the company today blasted the activist investor, his firm Trian Group, and his son, Matthew Peltz, whom Trian is proposing as a possible alternate candidate.
Brooklyn Beckham has stirred up a frenzy after using "too much" of a costly ingredient in one of his cooking videos.
Brooklyn Beckham did his best at photography and cooking, and now he’s ready to move on to fashion! Another career move made, another industry taken by storm! Or, uhhh, not?
Disney came out swinging Tuesday against Trian Partners and owner Nelson Peltz, the activist investor who’s pushing a proxy fight to take a seat on Disney’s board. “The current board is the right board for Disney shareholders,” the company said in a filing today with the SEC. “Nelson Peltz does not understand Disney’s business and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem.”
Investor Nelson Peltz’s broadside against the the Walt Disney Co., and the prospect of rare proxy fight at the media giant, stunned media circles this week — and a flurry of SEC filings over the past few days suggest plenty more fireworks to come.
Three certainly isn’t a crowd where Brooklyn Beckham, Nicola Peltz and Selena Gomez are concerned.The trio have been inseparable in recent months, with singer and actress Selena even joking on Instagram that she is in a throuple with the eldest Beckham boy and his wife.Alongside a series of snaps of the three of them cuddling up on their New Year’s getaway in Mexico, Selena wrote, “Fine calls us a throuple #foreverplusone,” to which Nicola replied, “Facts.”But fans have been conflicted over their extremely tight bond. While some are shipping it, others are baffled.
Walt Disney has named a new chairman of the board chair and indicated it’s also in for a proxy fight as Nelson Peltz Trianon Group seeks a director’s chair for the activist investor in opposition to the company’s slate.
No drama anymore?
Brooklyn Beckham celebrated his wife Nicola Peltz's birthday in a gushing post, where he states she changed his life. The budding chef, who is the eldest child of David and Victoria Beckham, took to social media to wish his actress wife a happy birthday.
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