Disney Shares Extend Recent Gains As Company Renews Attacks On Activist Investor Nelson Peltz

William Earl CalPERS, the influential California pension fund, has voted to shake up the Disney board by backing the election of activist investors Nelson Peltz and Jay Rasulo who have waged a months-long battle with CEO Bob Iger and the incumbent board of directors. The California Public Employees Retirement System told Reuters that the fund had cast its vote for Trian Partners’ Peltz and Rasulo as alternative directors to join the Disney board,.

Around 100 hours before the deadline for all Disney shareholders to cast their ballots in the acrid board clash between the Mouse House and activist investor Nelson Peltz, one of the country’s top pension funds just rolled its cannons onto the battlefield.

EXCLUSIVE: The New York City Retirement Systems are in Disney‘s corner amid bitter proxy fight with activist investor Nelson Peltz.

A Governor Ron DeSantis-selected special district board the oversees The Walt Disney Co.‘s Florida theme park properties has settled its litigation with the company today.

Proxy advisor Egan-Jones on Wednesday became the second independent firm to support activist Nelson Peltz‘s effort to secure seats on the Disney board.

Todd Spangler NY Digital Editor Nelson Peltz, the activist investor agitating to win two Disney board seats, criticized the company’s “woke” strategy — specifically questioning Marvel’s “Black Panther” and “The Marvels,” which featured Black and women leads, respectively. The 81-year-old Peltz, who has admitted he “never claimed” to have experience in the media business, made the comments about “The Marvels” and “Black Panther” in a recent interview with the Financial Times. “Why do I have to have a Marvel [movie] that’s all women?” Peltz asked rhetorically.

Nelson Peltz said today that his bitter proxy fight with Disney is “not about Mr. Iger, nor is it a referendum about his leadership” even as CNBC reported that his firm, Trian Partners, has withheld votes from the CEO, who is also a board nominee.

Todd Spangler NY Digital Editor UPDATED: Nelson Peltz claims Disney‘s board, not CEO Bob Iger, is the problem. But his investment firm, Trian Group, withheld its votes for Iger’s reelection to the Disney board. With just over a week before Disney’s annual shareholder meeting on April 3, Peltz’s Trian — which has been aggressively campaigning to get two seats on the Mouse House’s board — issued a new statement Monday saying the battle is not about any dispute with Iger but rather about forcing change on the board’s composition to boost the company’s financial returns.

Todd Spangler NY Digital Editor Michael Eisner, the former Disney CEO who exited the company in 2005, is the latest member of the extended Disneyverse to weigh in with support for current chief exec Bob Iger, who’s facing a proxy fight with activist investors including Nelson Peltz in a vote for board candidates at Disney’s April 3 annual shareholders meeting. “[I]n 1983, Disney was under attack by corporate raiders trying to take over the company,” Eisner wrote in a post on X, referring to the unsuccessful attempt by financier Saul Steinberg to stage a hostile takeover of the company.

Disney pushed back on a report today by leading proxy advisory firm ISS recommending shareholders vote activist investor Nelson Peltz to the board, and withhold votes for company board nominee Maria Elena Lagomasino.  

Todd Spangler NY Digital Editor Disney was handed a setback in its boardroom fight with activist investor Nelson Peltz after proxy-advisory firm Institutional Shareholder Services recommended that shareholders vote him onto the Mouse House’s board. ISS, whose recommendations are influential among institutional investors, cited Disney’s “failed” succession planning in the CEO role in its report backing Peltz, whose Trian Partners.

ISS, the most influential proxy advisory service, has recommended shareholders vote to put Trian’s Nelson Peltz on Disney’s board, saying the activist investor, “with his considerable experience on other boards and fiduciary duties owed to a large shareholding group, appears best positioned to bring a shareholder perspective to the board.”

George Lucas is the latest to come out in support of Disney and CEO Bob Igert as the company wages a bitter proxy fight against activist investor Nelson Peltz, who is making a run for two seats on the company’s board.

Todd Spangler NY Digital Editor Star Wars mastermind George Lucas has come out with a statement in support of Disney‘s board and CEO Bob Iger, urging Mouse House shareholders to reject a bid by two activist investor groups to take seats on the media company’s board. “Creating magic is not for amateurs,” Lucas said in a statement released Tuesday. “When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my longtime admiration for its iconic brand and Bob Iger’s leadership.” Lucas continued, “When Bob recently returned to the company during a difficult time, I was relieved.

Taylor Swift and Travis Kelce are making moves behind the scenes!

Todd Spangler NY Digital Editor Disney‘s current strategic direction under CEO Bob Iger got the thumbs-up from independent proxy voting and corporate governance advisory firm Glass Lewis, amid a campaign launched by two activist investor groups to win seats on the Mouse House’s board. Glass Lewis, in a March 18 report, recommended Disney shareholders vote for the Disney-selected 12 director nominees — and reject those put forward by Nelson Peltz‘s Trian Partners and another firm, Blackwells Capital — at the company’s annual meeting on April 3.

Proxy advisory firm Glass Lewis has recommended that Disney shareholders withhold votes for all board candidates except the company’s own.

Disney’s latest salvo in a proxy fight with activist investor Trian Fund Management highlights the firm’s “silent partner” Ike Perlmutter and his “difficult history with Bob Iger.”

Disney+ has revealed a first-look at a new drama about the life of German fashion designer Karl Lagerfeld. The streamer has also confirmed when the six-part series will drop.

Following Disney chief Bob Iger’s very recent admission that the company had quietly canceled several projects that they didn’t wholeheartedly believe in the last few months amid belt-tightening and scaling back, a picture of what some of those projects might be is starting to emerge. In an in-depth piece from The Wrap about soon-to-be-former Disney executive Sean Bailey and his legacy— exiting after 15 years as the motion picture group’s president of production, a big shake-up in the company— some details of what may have already been put out to pasture are becoming more apparent.