The Daily Bell (US Edition) • 2 Apr, 2024
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Hey there, financiers! Grab your popcorn πΏ β Disney's epic proxy fight is about to reach its climax! Activist investor Nelson Peltz has been swinging his sword for a board shake-up, and the results are due to be announced at Disney's annual stockholders meeting. Will Peltz's battle cries for change win him and ex-Disney CFO Jay Rasulo seats on the board, or will CEO Bob Iger's crew hold the fort?
This isn't just about rearranging the deck chairs on the Disney ship π’. Peltz and his squad are concerned about Disney's future as it tries to ride the streaming wave π, and with Iger's contract expiring in 2026, who will be the new captain? Disney says they're working on it, but Peltz wants proof.
It's a real-life Game of Thrones, folks! Will Peltz's allies, including Californian pension fund CalPERS and investment firm Yacktman Asset Management, tip the scales in his favor? Or will the backing of ValueAct Capital and "Star Wars" creator George Lucas keep Disney's current board in power? Stay tuned for the big reveal!
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