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Disney to work with ValueAct to counter billionaire activist Peltz
Financial Express Mumbai
|January 04, 2024
ValueAct’s backing may bolster Disney’s stance against Peltz
WALT DISNEY SAID it has won the support of ValueAct Capital Management for its board nominees and will consult with the activist investor on strategy, as the world's largest entertainment company responds to pressure to boost performance.
ValueAct has signed a confidentiality agreement that enables Disney to provide the firm with additional information, the two companies said in a statement on Wednesday.
ValueAct's backing may strengthen Disney CEO Bob Iger's stance against billionaire activist Nelson Peltz, who's proposed that he and ex-Disney Chief Financial Officer Jay Rasulo join the board.
Peltz's Trian Fund Management LP said last month that Disney must address "compensation misalignment, governance and succession issues that have plagued the company for decades."
This story is from the January 04, 2024 edition of Financial Express Mumbai.
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