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.
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.
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.
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 shares were up 2% at mid-day Monday, extending their recent rally, as the company renewed its attacks on activist investor Nelson Peltz.
After skidding to multi-year lows in late-2023, Disney stock has rebounded more than 20% thus far in 2024 as two activist investment firms have launched a proxy fight.
Disney CEO Bob Iger called the proxy fight being waged by two activist investors a campaign that “is, in a way, designed to distract us, to take our eye off all [that’s] necessary to do what we need to do to generate returns for shareholders.”
Todd Spangler NY Digital Editor Nelson Peltz’s Trian Partners, which is agitating to get two seats on Disney’s board, on Monday released a lengthy white paper analyzing the Mouse House’s financial performance — and suggesting strategic fixes. The recommendations, according to Trian, are aimed at turning around Disney‘s stock performance, which has trailed most of its peers (except Warner Bros.
Todd Spangler NY Digital Editor The descendants of Walt Disney and his brother Roy O. Disney have weighed in on the bid by two activist investment firms to win seats on the board of the Walt Disney Co. Nelson Peltz, the activist investor who runs hedge fund Trian Partners, is waging a proxy-fight battle to install himself and ex-Disney CFO Jay Rasulo as directors; Peltz’s stated aim is to drive up the price of Disney’s stock.
In two open letters to shareholders of the Walt Disney Co., grandchildren of Walt Disney and his brother Roy O. Disney came out in support of CEO Bob Iger and current management, which is being assailed by two investment firms trying to change the makeup of the company’s board.
Todd Spangler NY Digital Editor Nelson Peltz, the activist investor who runs hedge fund Trian Partners, believes urgent change is needed at Disney. He’s waging a proxy-fight battle to install himself and ex-Disney CFO Jay Rasulo as directors, a vote that will go up at Disney’s 2024 annual shareholders meeting April 3. What does Trian want? “Fundamentally and crudely, we want the stock to go up,” Peltz says in a video on Trian’s Disney proxy-fight site.
“Wannabe” a grandmother just yet. Victoria Beckham had a hilarious reaction when asked by Vogue if she is “excited” to become a grandma. “Jesus.
Nicola Peltz Beckham, the daughter of a billionaire and the newest member of the famed Beckham family, is addressing criticism that she “doesn’t work.” “I get a lot of mean comments on my Instagram that, unfortunately, I do read, and they always comment, ‘She doesn’t work,”‘ the heiress and actress, 29, told Byrdie.“And that’s fair, and I don’t blame them for saying that because it’s not like I’m posting my ‘Lola’ experience every step of the way,” she said, referring to her film “Lola,” which she stars in, wrote and directed. “But I really have been working on ‘Lola’ for six years.
Happy Valentine’s Day from Marvel Studios: As activist investor Nelson Peltz was throwing punches at Disney on CNBC, the company was unveiling the cast of their new Marvel Studios movie, The Fantastic Four which is Pedro Pascal as Reed Richards (aka Mr. Fantastic), Vanessa Kirby as Sue Storm (aka the Invisible Woman), Joseph Quinn as Johnny Storm (aka the Human Torch) and Ebon Moss-Bachrach as Ben Grimm (aka the Thing). The news was made official on Instagram.
Activist Disney investor Nelson Peltz, whose Trian Capital is at war with CEO Bob Iger, blasted the company’s spree of earning-timed announcements last week as “spaghetti against the wall.” He also guaranteed victory in the proxy fight.
Disney touted its latest financials, a dividend hike and projects around sports, Fortnite and Taylor Swift as it urged stockholders to elect its board candidates at the upcoming annual meeting — not directors nominated by activist investors that it says will gum up the works as management “successfully executes a strategic transformation of the company.”
Nicola Peltz Beckham had to make a tough decision and cut her husband Brooklyn Beckham from her debut film due to his acting skills. The actress, 29, confessed that Brooklyn, 24, was "really upset" when she removed his cameo scene from the movie Lola, reports Daily Star. Nicola, who is the lead actress, director, and writer of the new film, shared with The Hollywood Reporter: "Brooklyn is actually really upset that he did get cut from his one little cameo.
Blackwells Capital, a Disney shareholder with plenty of opinions about who should sit on the company’s board of directors, blasted the rival Trian Group for its own board maneuvering.
Brooklyn Peltz Beckham has opened up on what life is like with his wife of two years Nicola Peltz in a rare insight.The eldest son of David and Victoria Beckham married the actress in 2022 in the Florida mansion of Nelson Peltz, Nicola's billionaire investor father. And in the past two years the young couple have carved out a beautiful life for themselves which consists of five dogs and two whopping homes. Speaking to The Times about his lavish life, the 24-year-old shared that he has a "good schedule" in Los Angeles, filled with dog walks, working out and "hanging out" with his wife.
The Trian Group’s Nelson Peltz has formally asked Disney shareholders to elect himself, as well as former Disney executive Jay Rasulo, to the company’s board of directors at the annual meeting this spring.
Todd Spangler NY Digital Editor Disney CEO Bob Iger saw his compensation hit $31.6 million in 2023 — down from $45.9 million in 2021, his last prior full year of employment at the company. Iger’s 2023 pay package included $865,385 in base salary, plus 16.1 million in stock awards, $10 million in stock-option awards, $2.14 million cash bonus and $2.48 million in other compensation, according to the company’s proxy statement filed Tuesday with the SEC. His contract with Disney runs through the end of 2026.
Disney CEO Bob Iger’s compensation totaled about $31.6 million for the company fiscal year ended Sept. 30. It includes most of the year. Iger returned to lead Disney in November of 2022.
Disney Co. made a strategic move amid its proxy battle with Nelson Peltz by inking an “information sharing” deal with activist investor ValueAct Capital.
The Walt Disney Company has struck an agreement with ValueAct Capital Management, gaining the support of the activist investor for its board nominees at the crucial upcoming annual meeting.
Disney has taken another big step toward realigning its India strategy. The company has signed a non-binding term sheet with Reliance Industries that would see the two merge their Indian operations, the completion of which would create one of India’s biggest entertainment empires. The news was first reported by The Economic Times.
James Gorman, CEO of Morgan Stanley and soon to be a member of Disney‘s board of directors, is not fazed by the possibility of the media giant going through a proxy fight.
Nicola Peltz, who married Brooklyn Beckham last year, has been labelled a "nightmare bride" in a new documentary, which claims their wedding was "total carnage".The couple tied the knot in a grand three-day bash in Palm Beach with over 500 guests in April 2022. However, Nicola reportedly went through three event organisers for her big day after the first two allegedly couldn't meet her expectations reports The Mirror.
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