Disney’s Bob Iger wins battle for control and rebuffs shake-up attempts

Disney CEO Bob Iger fended off an attempt to shake up the corporate leadership on Wednesday when the shareholders voted for the company’s preferred slate of board nominees.

The effort to change the board was led by billionaire Nelson Peltz who lost his bid for a seat on the board. Peltz argued for a plan of succession in leadership, better streaming targets to be more “Netflix-like,” and called many of Disney’s goals “amorphous and the execution poor.”

Iger had returned to the company in late 2022 while the company went through numerous challenges, including Hollywood labor strikes, battles with Gov. Ron DeSantis (R-FL), and leaked tapes of Disney officials bragging about their efforts to push socially progressive messaging into films and television programming.

“Despite its many advantages, Disney has lost its way,” Peltz’s company, Trian Fund Management, said in its letter
Read more…

Please follow and like us: