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“Bully” Billionaire’s Attempt at Hostile Takeover of Disney FAILS

nelson peltz
Credit: Milken Institute, Flickr

For months, Disney CEO Bob Iger has been fighting many wars on all fronts. He has been struggling to stem the bleeding at Disney+, something he is actually managing to do. He has also been fighting with Florida Governor Ron DeSantis, a fight that started in 2021 while Bob Chapek was CEO. Thankfully, that also appears to be on the verge of ending. As if those weren’t enough, Iger has also been fighting to convince shareholders that he is the best person to lead the company.

ValueAct backs Bob Iger in Nelson Peltz fight

Credit: Apple TV+

For the second time in just over a year, Trian Fund Management founder Nelson Peltz has been fighting to gain power on Disney’s Board of Directors. The first time Peltz tried to get a board seat, his efforts failed before they even began. However, this year, he has been more determined than ever.

Mr. Peltz said that shareholders have given Bob Iger more than enough time to “right the ship” when it comes to increasing Disney’s value. Peltz — who appears to be solely focused on making shareholders money — is also trying to get former Disney CFO, Jay Rasulo, on the Board of Directors as well.

Mickey Mouse at Disneyland

Credit: looseey, Flickr

Related: The Danger of Disney’s Hostile Billionaire, Nelson Peltz

But we now know that Peltz’s and Trian Partners’ efforts have failed.

On April 3, Disney held its Annual Shareholders Meeting, and during that meeting, it was shared that Nelson Peltz and Jay Rasulo had NOT gained enough votes to get seats on Disney’s board.

balloons mickey mouse

Credit: Flickr, JoePenniston

Related: Thorn in Disney’s Side Claims They Know “Root Cause of Disney’s Underperformance”

Prior to the shareholder’s vote, Bob Iger, and Disney as a whole, had been working hard to make sure that Peltz and Rasulo did not get anywhere near the Board of Directors. Disney has accused Peltz of having a “vendetta” against the company, due to his close relationship with fired Marvel executive, Ike Perlmutter.

Perlmutter was fired in March 2023, and claimed that it was partly due to his support of former President Donald Trump and Disney foe, Governor Ron DeSantis.

Ron DeSantis

Credit: Gage Skidmore, Flickr

Peltz claimed that shareholders have been “let down” by Disney’s Board of Directors, due to its lack of “alignment and accountability.” However, many were worried about what that “alignment” would be, should Peltz and Rasulo gain the two seats they coveted. Peltz recently railed against Marvel movies that had “all-black” and “all-female” casts.

With Peltz and Rasulo failing to get the seats they wanted, shareholders have shown that they support Disney’s CEO and the direction he is taking Disney in. Despite frequent accusations of being “too woke”, Iger has continued to support Disney’s drive to create more content that reflects the world as it is today.

chadwick boseman's death black panther co-star 3 year tribute marvel cinematic universe black community colorectal cancer marvel studios civil war immeasurable grief

Credit: Marvel Studios

Prior to the meeting, Iger had gained some serious support that most likely helped sway a number of voters. Iger received the endorsement of the family of Walt Disney, former Disney CEO Michael Eisner, and even Lucasfilm founder and Star Wars creator, George Lucas.

Do you think Disney shareholders made the right call in voting against Nelson Peltz? Let us know in the comments!

About Krysten Swensen

A born and bred New England girl living the Disney life in Southern California. I love to read, to watch The Golden Girls, and love everything to do with Disney and Universal. I also love to share daily doses of Disney on my Disney Instagram @BrazzleDazzleDisney!

8 comments

  1. It was mistake. The stock price dropped over $3 since the vote.

    • The Empire Strikes Back

      When do we stop bending the knee and catering to a group that makes up less than 5% of the country’s population. How long do we have to take having theLGBTQ agenda crammed down our throats? When will companies like Disney wake up and realize that it’s the straight traditional families that make up the vast majority of their customer base? When will they realize that when they loose us, and they’re working real hard to do that, they loose everything!

      • Totally agree..Disney doesn’t need to cater to them .my husband and I saw it first hand this year. I was disappointed.

  2. I don’t know whom is the person needed to right this ship but it is not working now. They need to get their focus back on what Disney was all about. Family friendly, magical experiences and not Woke, political, please the minority of their customers instead of just doing what Disney was great at. The leadership in place is too busy doing the opposite

  3. Nancy L Gessner

    Yes. The Peltz group is looking to push their ideas over the company. Disney is showing care for their product in reflecting the world as it is today, not the “world that is a figment of Peltz’s imagination. He is concerned about $$$$$ and power and not showing the truly diverse world we have!

    • The job of the board is to provide PROFITS for the stock holders, NOT to get involved in politics or push a political agenda! This current board will only result in more loss revenue and valuation of Disney. The stock price today is lower than it was 10 years ago when it was $124 a share!

    • Just like movies are rated and aren’t made for everyone also being diverse…. let’s get it straightened out then because there should be ratings and guidance and restrictions for those who want to see these new films your talking about vs the majority that don’t want to see these diverse films not fair for everyone to be pushed in somebody else’s ideology since without a rating or a warning, especially if they have kids and have different beliefs. we are forgetting about common people. They are not being included. They’re being excluded. Their voices count too not just those that went diversity
      there’s those that don’t want it and people have to realize their needs so there should always be ratings restrictions and guidance on these films today.

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