"Disney Aligns with ValueAct and Blackwells Capital in Board Nomination Strategy Against Peltz"
Originally Published 2 years ago — by The New York Times
The Walt Disney Company has secured support from ValueAct Capital, a notable activist hedge fund, against a board challenge from billionaire Nelson Peltz. ValueAct, which has a history of constructive engagement with company boards, will back Disney's director nominees at the upcoming shareholder meeting. This move comes as Disney faces various business challenges and investor unrest, with other hedge funds like Blackwells Capital also seeking board representation. Disney has agreed to consult with ValueAct, which holds a smaller stake compared to Peltz's shares, as part of their collaboration efforts. The company has recently added new directors in an attempt to stabilize its governance amidst calls for strategic changes and clearer succession planning.