Disney Faces Proxy Challenge From Peltz, Names New Chairman
- Trian is focused on capital allocation and executive pay
- Analyst says Peltz’s push has merit and could help shares
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Activist investor Nelson Peltz nominated himself to the board of Walt Disney Co. in what could become a highly public debate over Chief Executive Officer Bob Iger’s leadership.
Peltz’s Trian Partners LP filed a preliminary proxy statement on Thursday morning urging shareholders to support his nomination. Trian — which holds a $900 million stake in Disney — noted that the stock is near an eight-year low, a reflection of what it said was failed succession planning, “over-the-top” compensation practices and a lack of cost discipline.