Get the latest gossip
Nelson Peltz Claims He Backs Disney CEO Bob Iger, but His Investment Firm Withheld Votes for Iger’s Election to the Board
Nelson Peltz's Trian Fund Management says Disney's board, not Bob Iger, is the problem. However, Trian withheld its votes for Iger to the board.
“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 asserted 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.
Or read this on Variety
