Disney CEO Bob Iger is garnering support from ValueAct Capital and Blackwells Capital to counter activist investor Nelson Peltz's pressure for changes on the board. ValueAct has agreed to support Disney's board nominees and consult on strategy, while Blackwells, which proposes its own nominees, criticizes the Disney-ValueAct cooperation as insufficient. Peltz, through Trian Fund Management, holds a significant stake in Disney and has been critical of the company's succession planning and governance. Iger, who returned as CEO in late 2022, has been implementing cost-cutting measures, including job cuts, to improve financial performance. The shareholder meeting in the spring will be a key event for these power dynamics to play out.
Disney has received backing from activist investor ValueAct Capital for its board nominees, while Blackwells Capital has announced plans to nominate three directors in support of CEO Bob Iger. This comes as Disney faces potential board challenges from Trian Capital and other dissenters at the upcoming annual shareholder meeting. ValueAct's support is part of a strategic consultation agreement with Disney, and Blackwells' move is seen as a way to bring new perspectives to the board, aligning with Iger's strategy. The situation indicates a significant moment of corporate governance activity for Disney, with various stakeholders vying for influence over the company's direction.
Walt Disney has received support from ValueAct, a significant investment firm, in its ongoing corporate governance and strategic direction. This backing comes at a crucial time as Disney faces challenges and decisions that will shape its future. ValueAct's endorsement is likely to influence other shareholders and stakeholders in the company's trajectory.
