Disney and activist investor Nelson Peltz gear up for a proxy fight
Publishing timestamp: 2023-01-11 21:13:30
Summary
Disney is opposing activist investor Nelson Peltz's attempt to join board as two sides prepare for proxy battle. Disney also named Mark Parker, executive chairman of Nike, its new chairman of board. Peltz's Trian Fund Management confirmed it had nominated Peltz to Disney's board. Disney preempted Trian's announcement, saying it had rebuffed Peltz's advances. Parker will succeed Susan Arnold as chairman of Disney's board. Iger's return in November came with promise of two-year stint that would spark renewed growth. Trian criticized Disney for "failed succession planning." Disney previously announced companywide cost-cutting measures in November.
Sentiment: MIXED
Keywords: walt disney co, mark parker, media, business, entertainment, nelson peltz, nike inc, bob iger, business news, markets, retail industry, breaking news: business,
Source: https://www.cnbc.com/2023/01/11/nike-chairman-mark-parker-will-become-chairman-of-disney.html