An investor with a substantial stake in Disney voiced concerns during an interview, expressing criticism towards the company for what he perceives as an excessive focus on woke themes in their films.
Nelson Peltz, an octogenarian billionaire, oversees Trian Partners, an investment firm boasting $3.5 billion worth of Disney stock. Peltz, along with his investment firm, is actively pursuing increased influence within Disney, initiating a proxy battle against the existing board and CEO, Bob Iger. Peltz has rallied fellow Disney investors to endorse his bid for a seat on the board, alongside former Chief Financial Officer Jay Rasulo. Their objective is to displace Maria Elena Lagomasino and Michael Froman from their positions on Disney’s Board of Directors.
During an interview with the Financial Times, Peltz expressed strong criticism toward the studio responsible for the renowned Marvel superhero movies. He argued that moviegoers typically don’t seek political messages when they go to the movies. Peltz questioned Marvel’s choice to produce films focusing solely on women or Black actors. Despite acknowledging his limited knowledge of the film industry, Peltz insinuated that Disney’s track record, marked by five consecutive major flops, indicates a lack of expertise in the movie business on their part as well.
The Disney Corporation, led by Iger, has vehemently opposed Peltz’s efforts to increase his influence within the company. Recently, Disney distributed a presentation to investors titled “Correcting Trian’s Fiction with Facts.” The cover of the presentation depicted an image of Pinocchio with an elongated nose, alluding to the character from the movie “Pinocchio,” whose nose grows longer when he tells lies.
In response to the corporation’s criticisms, Peltz labeled the company as unintelligent, asserting that his intentions are not to dismiss Iger but rather to assist him. Despite Trian’s statement expressing support for Iger, the investment firm refrained from casting their votes in favor of Iger as a board member. The voting for Disney’s Board of Directors is scheduled to occur during their upcoming board meeting on April 3.
