Disney is facing it’s most serious challenge for control over the future of the business since a fierce battle (that was nearly a proxy fight) in 2004. The struggle was dramatic and shocking as Walt Disney’s own nephew, Roy E. Disney led the charge. The Disney legacy felt then CEO Michael Eisner had outlived his usefulness to the company, citing falling theme Park attendance and floundering animation studios as evidence.
Eisner, was responsible for what is now known as “the Disney Renaissance” which prompted a return to prominence for Disney Animation. He also heavily invested in the Parks during his tenure. Over time, though, Mr. Roy Disney felt that Eisner had lost his touch and the success of his first decade as CEO was being overshadowed by missteps. He called upon Eisner to resign several times without success.
Activist investor and Trian Fund Management founder Nelson Peltz’s proxy fight with Disney is heating up as the House of Mouse has sought reinforcements from shareholders ValueAct Capital and Blackwells Capital.
According to Disney’s latest proxy statement, Thursday marked the deadline for any shareholder who wanted a board nomination or other business considered at the company’s 2024 annual meeting, which is expected to take place in the spring.
MATTHEW BELLONI, one of the entertainment industry’s most prominent journalists, is VERY UPSET to learn Bob Iger seems to be about to give in to the demands of an “anti-woke” billionaire investor Nelson Peltz and give him AT LEAST one seat on the board of directors of Disney, effectively sharing control of the company with him. This would change the company forever.
Disney is in a battle for control of it’s company. The CEO, Bob Iger wants to continue to promote his political agenda at the expense of stockholders. Investors have lost patience with Bob Iger and now they want a say over the company’s strategy and decision making. It’s time for a change.
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 media. 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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