If Nelson Peltz and former Disney CFO get on the board of directors of Disney, they will make massive changes to the company. Peltz has a history of pushing for change at multi-billion dollar companies and getting results most of the time. This will not be like when other board members get on to boards and almost nothing changes.
Nelson Peltz has brought in the former CFO for Disney, Jay Rasulo WHO KNOWS where the bodies are buried and how badly the company is currently being run to join him in pushing to get seats and effective control of the board of directors at Disney. Normally 2 board seats would not give someone control of a company, however everyone knows well Nelson Peltz plays hardball and very often gets exactly what he wants with multi-billion dollar companies.
Former CFO, Jay Rasulo had THIS to say TODAY in their public press release about Disney, ““The Disney I know and love has lost its way. As independent voices in the boardroom, Nelson and I are confident that the combination of my decades of experience at Disney, Nelson’s significant boardroom skills and history of driving positive strategic change, and our combined consumer brands expertise and financial acumen, will be additive to the Disney board. With a shareholder mandate, Nelson and I look forward to helping the board and management reorient the company towards delighting its consumers again and driving significant value for its owners.”
Peltz’s Trian Fund Management said Disney shareholders have lost about $70 billion in value since the activist ended its first campaign in February. Trian said that it spoke to Disney CEO Bob Iger on Thursday and that the company’s board agreed to meet with the investment firm but wouldn’t grant its request for board representation.
Activist investor Nelson Peltz, who’s looking to shake up Disney‘s board, plans to nominate two directors as candidates for directors of the Mouse House’s board: Peltz himself, and former Disney CFO Jay Rasulo.
Peltz’s Trian Fund Management said Thursday it submitted a notice of its intention to nominate the two independent director candidates at Disney’s 2024 annual shareholders meeting, expected to be held next spring.
“Disney is one of the most iconic companies in the world with unrivaled scale, unparalleled customer loyalty, irreplaceable intellectual property (IP) and an enviable commercial flywheel. However, Disney has woefully underperformed its peers and its potential,” Trian said in a statement.
Trian controls roughly $3 billion worth of Disney stock and is seeking multiple directors. The activist investor said it plans to take its case directly to shareholders, without specifying what changes it seeks. Disney said in response to Peltz’s announcement that it is moving from a period of fixing to one of building, has a strong balance sheet and continues to refresh its board.
Investors have finally started to notice Disney’s creativity is NOT what it used to be. Now Disney is focused on pushing agendas, not creating memorable stories and characters and it’s becoming widely criticized among the investment meda. The Financial Times, the UK version of the Wall Street Journal is asking, “Can Disney rediscover the magic?” They are questioning the obvious lack of creativity that’s destroying what used to be the greatest creative brand in American business.
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