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Nelson Peltz Backs Bob Iger, Says Proxy Fight Is About Disney’s Board, ‘Which Botched its Most Important Job — CEO Succession’
Nelson Peltz's Trian Fund Management says Disney's board, not Bob Iger, is the problem.
“In this election contest, Disney has emphasized that Mr. Iger is admired and respected (including, for example, by service providers and advisors), which we do not doubt,” the hedge fund said in the statement. Trian’s statement asserts that the Disney board “botched its most important job – CEO succession – by installing Bob Chapek in that role seemingly without appropriate vetting or oversight. “We believe that reelecting the existing board will have the predictable effect of leading to more of the same: questionable strategic and capital allocation decisions, poor executive compensation alignment and suboptimal succession planning,” Trian’s March 25 statement said.
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