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Activist shareholder Nelson Peltz’s Trian Fund Management has reignited a proxy fight against Disney, just months after temporarily withdrawing its earlier push, as reported by Krystal Hur for CNN.
The activist shareholder declined to comment on the number of seats it seeks on Disney's board but mentioned that Disney rejected its request for representation, including for Peltz. I Photo: Miami Herbert Business School
Trian cited low investor confidence, looming strategic questions, and acknowledged challenges within Disney as reasons for renewing the proxy fight.
The activist shareholder declined to comment on the number of seats it seeks on Disney's board but mentioned that Disney rejected its request for representation, including for Peltz.
Trian's move follows recent changes to Disney's board, with additions including James Gorman, CEO of Morgan Stanley, and Jeremy Darroch, former CEO of Sky. Despite these changes, Trian stated that they do not address the root cause behind the significant value destruction overseen by Disney's current board.
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