Billionaire Nelson Peltz renews push for seats on Disney board as stock slumps

Nelson Peltz, the billionaire founding partner behind Trian Fund Management, reportedly wants multiple board seats at Walt Disney — including one for himself — after his fund upped its …

Billionaire Nelson Peltz exploring a possible shakeup of Estée Lauder: sourcesDisney CEO Bob Iger says he will step down in two yearsBillionaire investor Nelson Peltz is planning a fresh push to grab seats on Walt Disney’s board, as shares of the company have slumped since he locked horns with CEO Bob Iger in the spring, according to a report.

Trian, which Peltz co-founded in 2005, thinks Disney shares are significantly undervalued, according to The Journal, and has been putting pressure on Iger — who signed an extension to remain at the helm of the Mouse House through 2026 — to reverse Disney’s stock decline.Bob Iger, who retired as Disney’s CEO after 15 years at the helm, returned to the position in November. He’s already initiated a sweeping revamp that slashed 7,000 jobs and jacked up the price of Disney+.

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Disney faces pressure for more board seats from activist Nelson Peltz: reportBarbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter bkollmeyer.
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