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. “In this election contest, Disney has emphasized that Mr.
Iger is admired and respected (including, for example, by service providers and advisors), which we do not doubt,” the hedge fund said in the statement. “Trian supports Mr.
Iger as a candidate for the board and as CEO. That Disney spends so much time and ink defending Mr. Iger — while saying almost nothing about the two director candidates whose reelection Trian is challenging — is both troubling and telling.
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