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Walt Disney Company

All articles tagged with #walt disney company

business1 year ago•1 min saved

"CalPERS and NYC Retirement Systems Support Peltz and Rasulo in Disney Board Battle"

The California Public Employees Retirement System (CalPERS) has voted to elect activist investor Nelson Peltz and Jay Rasulo to the board of Walt Disney Company, joining other advisory firms in backing the candidates. The vote comes ahead of Disney’s annual shareholders meeting, where a showdown is set to take place over two board seats. Peltz, founder of Trian Partners, and Disney CEO Bob Iger have been at the center of a tense proxy fight, with Peltz arguing that Disney’s business is in decline under Iger, while Iger has been trying to convince shareholders not to vote for the investment firm’s candidates.

via Hollywood Reporter|

#boardroom-battle #business #calpers

businesspolitics1 year ago•4 min saved

"Disney and Florida Governor DeSantis Reach Settlement in Longstanding Legal Dispute"

The Walt Disney Company and Florida Gov. Ron DeSantis have settled their yearlong legal dispute over the Central Florida Tourism Oversight District, ending a battle that began when DeSantis revoked Disney's self-governing status. The settlement nullifies a last-minute agreement giving Disney control over development decisions, and paves the way for collaboration on updating the district's comprehensive plan. The resolution, which includes new board appointments, signals a willingness to work together and allows Disney to proceed with its $30 billion theme park upgrade plans.

via NPR|

#businesspolitics #florida #legal-dispute

business1 year ago•3 min saved

"Disney CEO Bob Iger's Battle Against Activist Investors"

The Walt Disney Company has released a video featuring iconic characters to educate shareholders on an upcoming board of directors election, prompted by activist investors seeking management changes and enhanced shareholder value. Nelson Peltz's Trian Fund Management wants a succession plan for CEO Bob Iger and cost reductions, while Blackwells Capital suggests breaking up parts of Disney's business and adding media experience to the board. The current board is favored to win, with the vote deadline set for April 2, 2024.

via Cartoon Brew|

#activist-investors #board-of-directors #business

politics2 years ago•3 min saved

Florida State Investigates Former RCID and Links Flesh-Eating Bacteria to 5 Deaths

Allies of Florida Governor Ron DeSantis, including his recently appointed Central Florida Tourism Oversight District, have filed a complaint accusing the previous Disney oversight board of providing "unethical benefits and perks" to its members and employees, costing taxpayers millions of dollars. The battle for control over the district containing Disney's theme parks has intensified, with tensions between DeSantis and Disney escalating. Disney, which contributes the largest share of tax revenue to the district, has been critical of DeSantis' policies, leading to lawsuits and ongoing conflict between the two parties.

via CNN|

#battle-for-control #central-florida-tourism-oversight-district #perks-and-discounts

business2 years ago•2 min saved

"Stock Market Movers: Delta, PepsiCo, and More Pre-market Highlights"

Delta Air Lines saw a 4% jump in premarket trading after reporting its highest-ever quarterly earnings and revenue, along with raising its 2023 earnings forecast. Furniture company MillerKnoll fell over 5% despite beating earnings expectations. PepsiCo rose 2% after beating earnings and revenue expectations and raising its full-year outlook. Walt Disney Company's shares increased by 1.5% following the extension of CEO Bob Iger's contract through 2026. ViaSat's stock tumbled over 22% after disclosing an issue with its recently launched communications satellite.

via CNBC|

#business #delta-air-lines #millerknoll

politics2 years ago•2 min saved

DeSantis takes on Disney in ongoing feud.

Florida Governor Ron DeSantis boasted about stripping Walt Disney Company's self-governing power after it opposed the state's "Don't Say Gay" law. DeSantis signed a bill into law that gives a new board he controls the power to oversee development in the 25,000 acres surrounding Walt Disney World in Orlando, effectively wresting control from the company and handing it to the governor. Disney has filed a lawsuit against the state, claiming their First Amendment rights were violated by DeSantis' move. DeSantis also took a jab at New York State during his speech, claiming it wastes millions of dollars by imposing an income tax.

via New York Post |

#florida #lgbtq #new-york-state

business2 years ago•1 min saved

Disney's Cost Cutting Measures Lead to Massive Layoffs Across Multiple Divisions

ESPN has begun informing employees of layoffs as part of the Walt Disney Company's plan to reduce 7,000 jobs. ESPN President Jimmy Pitaro said the cuts are necessary to make the company more efficient and nimble. The first phase of cuts will impact off-air employees, with another round of job cuts to take place by the start of summer. On-air talent will also be affected by cuts via contracts not being renewed, buyouts or cuts.

via NPR|

#business #efficiency #espn

business2 years ago•2 min saved

Bob Iger's Views on Disney World Feud, Firing, Advice, and Future Plans.

Walt Disney Company CEO Bob Iger said he would be willing to meet with Florida Governor Ron DeSantis to discuss the ongoing feud between the two parties. Iger emphasized that Disney's sole goal in Florida is to continue creating value for all constituencies and that they have the desire to invest and grow their business in the state. The feud began after Disney denounced Florida's Parental Rights in Education bill last year, and Reedy Creek Improvement District passed restrictive covenants that handed most of the district's power to Disney for at least 30 years.

via WDW News Today|

#bob-iger #business #central-florida-tourism-oversight-board

entertainment2 years ago•1 min saved

Bowen Yang's Jafar Roasts Ron DeSantis Over Disney Feud on SNL

Bowen Yang appeared on "Weekend Update" as Jafar to comment on the ongoing feud between the Walt Disney Company and Ron DeSantis. DeSantis tried to dissolve the Reedy Creek Improvement District after Disney came out against the "Don't Say Gay" bill, but local officials signed an agreement giving Disney power of the land until "21 years after the death of the last survivor of the descendants of King Charles III, king of England." Jafar taunted DeSantis, saying "we will outsmart you at every turn."

via Vulture|

#bowen-yang #entertainment #reedy-creek-improvement-district

business2 years ago•3 min saved

Disney appoints Asad Ayaz as first Chief Brand Officer.

Asad Ayaz, the President of Marketing at Walt Disney Studios, has been named the first-ever Chief Brand Officer of The Walt Disney Company. In this newly created position, Ayaz will be responsible for stewarding and elevating the Disney brand globally across the entire ecosystem of company touchpoints and consumer experiences. He will continue as the studio’s President of Marketing, overseeing all aspects of promotion for the Burbank lot’s feature and Disney+ global slate. Ayaz will develop and execute brand marketing campaigns for the Walt Disney Company across its entire suite of content and consumer experiences, highlighting the brand internally and externally through partnerships, while guiding and aligning the corp’s digital and social media presence.

via Deadline|

#asad-ayaz #business #chief-brand-officer

business2 years ago•3 min saved

Former Marvel Chairman Claims Disney Fired Him Over Creative Differences and Politics

Ike Perlmutter, the chairman of Marvel Entertainment and one of Disney's largest individual shareholders, claims he was fired for complaining about the high cost of Marvel movies. Perlmutter accused Disney of being too focused on ticket sales and revenues while letting costs get out of control. He also confirmed his support for activist investor Nelson Peltz's campaign for a board seat at Disney. The company recently announced a massive restructuring plan, cutting $5.5 billion in costs and 7,000 jobs, including those at Marvel Entertainment.

via Fortune|

#box-office #business #cost-cutting

politics2 years ago•3 min saved

Disney vs. DeSantis: The Power Struggle Continues.

Florida Governor Ron DeSantis has warned the Walt Disney Company that there is more to come in their ongoing legal battle, following the company's autonomous board effectively stripping its successor of power. DeSantis' administration is examining whether a secret deal between the now-defunct Reedy Creek Improvement District and Disney is legal. The district, which manages Disney's theme parks and resorts in and around Orlando, was dissolved last month after Disney opposed a law limiting sex and gender education. The newly created Central Florida Tourism District is now under state control, but the board claims it is powerless to exercise any real authority.

via New York Post |

#florida #legal-scrutiny #politics

business2 years ago•3 min saved

Disney Layoffs Impact Multiple Divisions, Including ABC News and ESPN.

Walt Disney Company has begun the first round of layoffs as part of its cost-cutting measures, with plans to slash 7,000 jobs in three waves. The layoffs are expected to save the company roughly $5.5 billion. The first round of layoffs has centered mostly on Disney's television production and acquisitions departments. The high cost of producing content for its streaming assets has left Disney's growth dragging, with a $1 billion loss in its direct-to-consumer arm during the first quarter of 2023. CEO Bob Iger has emphasized the need to take a hard look at the company's cost structure across its businesses to make streaming profitable.

via CBS News|

#bob-iger #business #cost-cutting