Bob Iger's Disney comeback is being disrupted.
Peltz is a billionaire activist investor who hosted a fundraiser for President Donald Trump in February 2020. He’s known to be unhappy with’s response to Florida’s “Don’t Say Gay” bill and at present he’s in the midst of a lawsuit against the wedding planner for his daughter Nicola Peltz and her now-husband, Brooklyn Beckham.
Peltz is a man accustomed to getting his way. On Jan. 10, he arrived at Disney headquarters for his allotted 45 minutes to find Iger, McCarthy and Gutierrez in the room but no board members — the 12 men and women instead appeared via Zoom. Peltz presented his deck, which he provided to the board two days in advance of the meeting to give members time to digest it. As he went through all of his slides, he awaited feedback. But none was forthcoming.
“It’s his opportunity, that, of course, he’s going to take, to set his agenda and his priorities,” says Jessica Reif Ehrlich, BofA Securities analyst, noting that with Iger only signing on for a two-year stint as CEO before naming another successor, he’s got to hit the ground running right out of the gate.
“Does he de-layer management? What is the structure? What is the cost cutting? What does he say about Disney+? Does he reset the subs goal? What can he do to drive profitability? There’s a lot of things he can address,” Reif Ehrlich says. “Then on Parks, which seem to be incredibly strong for both Disney and Universal, they raised prices very quickly. So Bob already took some action in getting rid of the parking fees at hotels and expanding the hours for annual passholders.
Wall Streeters seem largely bemused by Peltz’s war of words with Disney, suggesting that longtime Disney-watchers don’t expect his campaign to have much impact in the long run. “It’s gotten kind of nasty and personal and I’d rather just avoid it,” Reif Ehrlich says. But she did offer that she believes “Bob has a lot of support.”
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