Disney rips Peltz over board fight, defends Iger's acquisitions
Publishing timestamp: 2023-01-17 11:11:10
Summary
Disney pushed back on activist investor Nelson Peltz's bid for a seat on its board, saying he has "no track record" with large media companies and criticizing his lack of understanding of Disney's business. Disney also defended CEO Bob Iger's past acquisitions and said Peltz presented no strategy. Trian Fund Management, Peltz's firm, has criticized Disney's corporate governance and its $71 billion acquisition of Fox in 2019. Disney preempted and opposed Trian by announcing Mark Parker, executive chairman of Nike, as the new chairman of the board.
Sentiment: NEGATIVE
Keywords: media, business news, nike inc, markets, nelson peltz, business, entertainment, walt disney co,