Today, Explained The fight for control of Disney’s kingdom
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Apr 2, 2024 Disney is in the midst of a dramatic power struggle as CEO Bob Iger faces off against activist investor Nelson Peltz. Peltz argues that the company overspends on 'woke' programming and is pushing for board seats to drive costly changes. The internal conflict is intensified by family member Abigail Disney's criticism of Iger's salary amid worker pay disparities. With various shareholders, including everyday investors, involved, the dynamics of this proxy battle are as complex as the future direction of Disney itself.
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Peltz Challenges Disney
- Nelson Peltz, an activist investor, is challenging Disney's leadership.
- He aims to secure board seats and implement cost-cutting measures, particularly in streaming.
Influence of a Board Seat
- While one board seat doesn't guarantee complete control, it provides influence.
- It enables advocating for changes like cost-cutting and CEO succession.
Peltz and "Woke" Programming
- Peltz criticized Disney's programming, mirroring Ike Perlmutter's past concerns about "woke" content.
- This echoes Perlmutter's reported opposition to Black Panther and Captain Marvel.