Trian Fund Management has announced that it will nominate Nelson Peltz, its founder, and Jay Rasulo, a former Disney chief financial officer, for Disney’s board. They are critics of Iger’s management and the direction of the company.

This is the second such campaign to challenge the authority of Iger and the direction of Disney by the shareholders.

What makes this challenge different is that former Marvel Entertainment chief Isaac “Ike” Perlmutter has thrown his significant holdings behind his friend Peltz.

[Professor Turley headlined this as “Mouse Hunt,” but I prefer my 1970s cinema reference better. He’s right to note Perlmutter’s alliance with Peltz as a potential game-changer. Disney’s shares have rebounded a bit from a recent low of $78.48 a share, but at $94 now, it’s still down 21% from its 52-week high of $117.80, and just under half of its 5-year high of $197.16 in March 2021. Their investors have to be growing tired of Disney’s doldrums under current management, and Perlmutter may not be the last big investor to show up demanding more representation. — Ed]