fbpx
Menu

Billionaire at Center of Disney’s Hostile Takeover Admits He’s a “Bully”

bob iger angry, mickey mouse says goodbye, bob iger making mistakes
Credit: Disney / Canva

Bob Iger has been back as Disney CEO for less than two years, and there has not been one day that has been easy. When Iger stepped back into the role in November 2022, he came back to a total mess. The company’s stock was plummeting, its reputation was floundering, guests were unhappy, prices were high, and quality was steadily declining. Not to mention the complete headache that was Disney+, which was costing the company billions.

Bob Iger salary revealed walt disney company department of justice

Credit: Disney

Related: Fired Disney CEO Bob Chapek Rips Bob Iger’s Plans For Company

Since being back, Iger has worked hard to get the company’s reputation back on the right track. He has put in a lot of man-hours to get Disney’s film and television business back in the black.

Multiple Disney+ series have been canceled, including The Mysterious Benedict Society, National Treasure: Edge of History, Willow, Big Shot, and The Mighty Ducks: Game Changers. He has also given creative control back to the creatives, but Disney’s feature film business is taking a lot longer to see a positive turn.

Mighty Ducks Game Changers

Credit: Disney

Despite these efforts, there are some who feel that Iger is not doing enough. One of those people is billionaire activist investor, Nelson Peltz. Peltz is the CEO of Trian Fund Management and is focused on doing whatever it takes to get more money into the hands of Disney’s shareholders.

Mr. Peltz has launched a proxy fight, encouraging Disney’s shareholders to vote Peltz — and one of his loyalists — onto Disney’s Board of Directors. He claims that Iger has been given plenty of time to “right the ship”, but he has failed to do so.

bob iger walt disney cinderella castle

Credit: Disney / Disney Archives / Canva

Related: Billionaire Using Disney’s Struggling Brand Reputation For Hostile Takeover

However, Mr. Peltz may have just admitted that he isn’t the best person for the job.

Last year, Peltz’s granddaughter, Nicola, married Brooklyn Beckham — the son of David and Victoria Beckham. Peltz wanted his granddaughter to have the best of the best, and was willing to pay for it.

He shelled out over $150,000 for wedding planners, who he fired nine days later. He then sued the planners for the return of his money. The lawsuit has been settled, but the planners called Peltz an “egomaniac” and a “bully”.

activist investor nelson peltz walt disney company

Credit: YouTube – Bloomberg Wealth

And Peltz agrees with their assessment.

In an interview with the Financial Times, Peltz said:

“What sense is being a billionaire if you’re not a bully? They got a great deal for doing nothing. But that’s water under the bridge.”

During his fight for control of Disney’s Board of Directors, Peltz has been criticized by not only Bob Iger, but by other investors, former Disney CEO Michal Eisner, and even the family of Walt and Roy Disney. Peltz has been accused of having a “vendetta” due to his close relationship with Ike Perlmutter, a fired Marvel executive who has been open about his disdain for the company.

ValueAct backs Bob Iger in Nelson Peltz fight

Credit: Apple TV+

Perlmutter is the main source of money behind Trian Partners shares of Disney. Disney has accused Peltz of wanting to get onto the board so that Perlmutter can tell him what to do.

Disney’s annual shareholders meeting will take place on April 3, 2024. That is when we will learn if Peltz was successful in his bid for seats on Disney’s board. He has also nominated Jay Rasulo, the former Disney CFO.

Do you think a “bully” is someone Disney needs on its board? 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!

One comment

  1. Absolutely not. As a DVC member, I would hate to see a bully in any authoritative role. Anyone with a vendetta becoming part of a Board of Directors is no more than a cancer focused on killing the organization.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.