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To say that things have been difficult for Disney CEO Bob Iger since his return in November 2022 would be an understatement. The once-beloved CEO has been dealing with less than happy guests at the theme parks, frustrated cast members, a dropping stock price, costly Disney+, and so much more. Disney is not the company it was when Iger stepped down in February 2020, and fans are letting Iger know.
Credit: Disney
Earlier this year, Iger fought what has been one of his toughest battles when billionaire Nelson Peltz launched a proxy fight. Peltz was aiming to get himself and a loyalist on Disney’s Board of Directors. Peltz felt that Iger had had ample chances to “right the ship”, but he had failed to do so.
However, it would not be a simple fight. Iger and Disney said Peltz didn’t understand how the company worked. There were also some major investors who backed Iger in the fight. And it didn’t hurt that Iger received the support of the Disney family, including fierce critic, Abigail Disney.
Credit: Disney Parks
Related: Bob Iger Called “Extremist” by Angry Shareholder
In April, Disney held its annual shareholders meeting, where the fight for control of Disney’s board came to a head. In the end, Iger came out on top and Nelson Peltz was left to lick his wounds.
Despite his apparent drive to help shape Disney in a way he saw fit, it looks like Peltz’s determination was short lived.
Credit: Screenshot, CNBC Interview
According to a new report from CNBC, Peltz has sold all of his stock in the Mouse House and Trian Fund Management is no longer an activist investor. But if you thought he was walking away with nothing, think again.
Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC.
Peltz sold all of his Disney stock at roughly $120 dollars a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share.
Credit: The Walt Disney Company
Since the heated proxy fight, things have been looking up for Bob Iger and Disney. Inside Out 2 is expected to perform well in theaters when it is released on June 14.
On top of that, Disney theme parks are continuing to make more and more money. Attendance has dropped, but Disney feels that is due to the post-COVID-19 travel bug slowing down.
Credit: Disney
Related: New Report Shows Just How Badly Disney’s “Bully” Billionaire Was Beaten
And then, there’s Disney+. While the streaming service isn’t thriving, Iger has really managed to turn things around. In fact, last quarter was the first time since its inception in 2019 that Disney+ did not lose millions of dollars.
Are you glad to see Nelson Peltz leave Disney? Let us know in the comments!
Go away for good. Won’t be missed at all.