Bob Iger couldn’t run for president. His wife said she would leave him (literally, it’s a quote). So he’s clearly instead decided to use Disney as his way to push his political agenda to serve his ego at the expense of Disney shareholders.
Bob Iger is tired. Exhausted and overwhelmed even. He has joked privately with friends that he’s not sure why he boomeranged back into the Walt Disney Co. chief executive officer role, and publicly he’s said the job is much more challenging than he expected.
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.
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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