food IS a theme park
The Walt Disney Company is getting ready for its 2024 Annual Meeting of Shareholders, and they’re pleading with stakeholders to support their nominations for the Board of Directors.
©Disney | Walt Disney Company Headquarters
Disney made it clear that they do not endorse the nominations of Nelson Peltz and former Disney CFO Jay Rasulo in their announcement, and now, a letter has been sent to shareholders urging them to vote against Peltz and Rasulo.
It’s no secret that Disney CEO Bob Iger has shifted his focus to streaming.
©Disney
Throughout 2023, Iger referred to streaming (and the restructuring within the company to focus on streaming) as his number one priority. He believes that the answer to returning to the top of the pyramid of media giants lies within Disney+, ESPN+, and direct-to-consumer marketing within those platforms. It seems that investor Nelson Peltz seems to somewhat agree.
As Disney prepares for the 2024 Annual Meeting of Shareholders, the company has announced its nominations for the 12 seats on the Board of Directors.
©Disney | Walt Disney Company Headquarters
In the same announcement, Disney confirmed that the company does NOT endorse the nominations of Nelson Peltz and former Disney CFO Jay Rasulo. [Read more…]
Although 2024 has only just begun, The Walt Disney Company is already making some big moves this year.
Disney World
The date of Disney’s first shareholder meeting of 2024 has yet to be announced, but ahead of the meeting, Disney shared a major update.
If you’re feeling a sudden wave of déjà vu, you’re not alone. Back in October, we reported that Nelson Peltz wasn’t quite done meddling in Disney company business just yet — but now, he’s made it official.
©Reuters
Peltz previously threw his name into the ring for a position on Disney’s Board of Directors, Peltz initiated a proxy battle for the spot which ultimately ended before it began, with Peltz pulling out of the fight and declaring his support for Disney and CEO Bob Iger. Now, Peltz is back and he’s throwing his name into the ring yet again.
For over a year now, Nelson Peltz has earned the title of “Bob Iger’s Biggest Villain.”
©The Walt Disney Company
Gaining important supporters and working to become part of the Walt Disney Company board of directors, Nelson Peltz has made a name for himself as the man who wants to take over Disney. He had recently acquired roughly 33 million shares of the Disney company, giving him lots of pull with the board. He has shared that when time comes in December, he’ll be on the hunt for more than just one seat at the board. But now, it turns out Nelson Peltz might have some competition.
Disney stock is at its lowest it has been for the past decade. But early Monday morning it saw a momentary 0.61% increase.
Cinderella Castle
But why on Monday morning after a low-key, uneventful Disney weekend would we see a sudden rise in stock prices? It might have to do with the name Nelson Peltz being back in the media. After several months of not hearing this name associated with Disney, he’s found a way back into the Disney spotlight, and this time he’s looking for more than just one seat on the Walt Disney Company board.
Nelson Peltz has reentered the Disney story like a villain even Walt himself couldn’t have dreamed up.
©New York Times Nelson Peltz of Trian Partners
After throwing his name into the ring for a position on Disney’s Board of Directors, Peltz initiated a proxy battle for the spot which ultimately ended before it began, with Peltz pulling out of the fight and declaring his support for Disney and CEO Bob Iger. But, with Disney stock prices at their lowest point in nearly 10 years, Peltz is back — and it sounds like he isn’t too happy.
The Walt Disney Company is in the midst of some major layoffs right now. During a recent earnings call, Disney CEO Bob Iger announced that thousands of jobs would be cut as the company works to cut costs.
©Disney | Walt Disney Company Headquarters
The layoffs began in late March 2023, and several executives lost their jobs as a result. Those job cuts have meant that an entire division of the company was eliminated, and a couple of major projects have been scrapped. Disney has stated that these job cuts are part of a huge effort to cut $5.5 billion in spending, but one Marvel executive claims that there’s a different reason why Disney fired him. [Read more…]
Another Disney executive is GONE.
©Disney | Walt Disney Company Headquarters
Earlier this year, Disney CEO Bob Iger announced that there would be 7,000 job cuts from Disney, and since that time we’ve seen some executives step down while others have been laid off. Now, we’ve got an update on one controversial executive within Disney who will be leaving.
Our handy (and portable!) ebook guides make sure you get the best deals and can plan a vacation of a lifetime.
