Activist Investor Nelson Peltz Is Said to Sell His Disney Stake
Activist Investor Nelson Peltz Is Said to Sell His Disney Stake
Nelson Peltz Sells Disney Stake After Board Battle
Loss of Board Seat Battle
Nelson Peltz, after an unsuccessful attempt to gain a board seat at Disney, has sold his significant stake in the company.
Criticism of Disney's Management
Peltz previously criticized Disney's management and strategic decisions, particularly around streaming services and stock performance.
Costly Boardroom Contest
The fight for board representation was one of the most expensive in history, with substantial financial expenditures from both Peltz and Disney.
How much did Nelson Peltz's hedge fund, Trian Fund Management, control in Disney stock before selling it?
Nelson Peltz's hedge fund, Trian Fund Management, controlled about $3.5 billion in Disney stock before selling it.
What specific criticisms did Nelson Peltz have regarding Disney's management under CEO Robert A. Iger?
Nelson Peltz, the billionaire head of the hedge fund Trian Fund Management, had several criticisms regarding Disney's management under CEO Robert A. Iger. These criticisms included the company's streaming strategy, lagging stock price, and succession planning. Peltz began voicing his concerns early last year, and although he briefly pulled back after Disney announced billions in cost reductions, he re-emerged in December, pledging to push for two board seats. The activist investor's criticisms eventually led to a high-profile proxy battle, which came to a head in April when shareholders voted strongly in favor of the company's current board of directors.