Peltz Waves the White Flag at Disney

The exit comes weeks after Peltz’s Trian Partners lost a proxy battle at Disney in early April as shareholders reelected the company’s full slate of board nominees. Peltz had been seeking to elect himself and former Disney finance chief Jay Rasulo to the company’s board.

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Peltz had long taken issue with Disney governance. In October, CNBC reported he upped his stake in the company to about 30 million shares and had reignited his proxy campaign, taking particular aim at Disney’s streaming strategy and a failed succession plan for CEO Bob Iger.

Ed Morrissey

Looks like Bob Iger can pop the cork on his victory champagne.  Peltz had been his main antagonist among Disney shareholders, and Trian's exit from Disney leaves the field entirely to Iger and his supporters.

For now, anyway. Do we know whether those shares went to one entity, or just out to the market? The over-market sale price hints at a single entity, and if that entity owns its own slice of Disney, perhaps Iger will have someone new to worry about. 

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