Disney Appoints New Board Members Amid Activist Investor Pressure

CEO Bob Iger Increases Cost-Cutting Target as Nelson Peltz Plans Board Nominees

Disney has appointed Morgan Stanley CEO James Gorman and former Sky CEO Jeremy Darroch to its board of directors, effective from February 5 and January 9 respectively.
Billionaire Nelson Peltz and his Trian Fund Management are planning their own nominees to the board next year, having amassed a $2.66 billion stake in Disney.
Disney CEO Bob Iger has increased the company's annual cost-cutting target to $7.5 billion from $5.5 billion following Peltz's renewed interest in board seats.
Iger has stated that he is no longer considering selling the company's traditional TV channels, reversing comments from earlier this year.
Disney's current board member Francis A. deSouza is stepping down to pursue an opportunity in the technology sector.