Disney Activist Investors Say They “Weren’t Out To Fire the CEO” Bob Iger

Disney’s proxy battle with activist investors is ramping up ahead of the annual shareholders meeting on April 3rd.

Walt Disney World

Here, Disney shareholders will have the opportunity to vote for the Company’s next Board of Directors, which could absolutely change the trajectory of the company. Disney has made their suggestion of 12 nominees to make up the new Board, but they’re currently battling activist investor Nelson Peltz’s Trian Group and Blackwells Capital for votes. With just under a month before the meeting, one activist investor has spoken up regarding plans for Disney.

If you aren’t already familiar, Nelson Peltz and his Trian Group have partnered with Former Disney Chief Financial Officer (CFO) Jay Rasulo. Peltz has fought to get himself and Rasulo elected to the board multiple times now, even nominating themselves for the roles.

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Throughout the process, the pair have added their commentary about the current Chief of the company — Bob Iger. For example, Peltz compiled a 133-page white paper detailing the ways in which he believes the Walt Disney Company and Iger have “failed.”

Cinderella Castle

Now, though, Peltz and Rasulo are saying that their goal isn’t to remove Iger from his current leadership position. According to a Deadline article, Rasulo noted, “I worked 15 years alongside Bob. I don’t think we ever had a cross word. I can work with Bob.” Despite his 15 years of work with the company, Disney now argues that Rasulo has been away too long to work with the current chief. According to the LA Times, Rasulo left Disney in 2015.

Cinderella Castle

Despite not working with the company, he shared with Deadline that he’s still a big fan of the brand and supports their endeavors outside of finances and stocks. He said, ““My kids are Disney kids. My wife is a Disney wife. I had the opportunity to open up Hong Kong Disneyland, launched two new cruise ships. I ran Euro Disney (Disneyland Paris)…I love the company.”

Together, Peltz and Rasulo shared that they “weren’t out to fire the CEO” by seeking Board positions.

As for whether or not the duo will attain their positions on the Board, we’ll just have to wait and see. Shareholders are invited to attend the April 3rd meeting and vote on their desired Board members following the meeting. We’re constantly monitoring Disney news, so make sure to follow along so that you’re always in the loop and never miss a thing.