Disney Faces Proxy War as Activist Investor Nelson Peltz Nominates Himself, Ex-CFO to Board

Peltz criticizes Disney's performance, calls for 'Netflix-like' streaming margins and a clear CEO succession plan.

Nelson Peltz, founder of Trian Fund Management and Disney's largest active shareholder, has officially launched a proxy war against Disney, nominating himself and former Disney CFO Jay Rasulo to the board of directors.
Peltz accuses Disney's current board of having 'self-inflicted wounds' that have impacted its bottom line and criticizes the company for underperforming its peers and the broader market over the last decade.
Peltz is pushing for Disney to target 'Netflix-like' streaming margins of 15% to 20% by 2027, and to finalize a succession plan for CEO Bob Iger, whose current contract runs through 2026.
Peltz and Rasulo are also targeting 'high-single-digit operating income growth' for Disney's theme parks and a detailed business plan for ESPN, which Peltz refers to as the 'crown jewel' of the media giant.
Disney has rejected Peltz's board nominations and defended its ongoing transformation, arguing that Peltz has not presented a single strategic idea for the company and lacks relevant media and technology experience.