In April, activist investor Nelson Peltz and Trian Partners lost a proxy battle with the Disney Company. Peltz, a known associate of ousted Marvel Chairperson Ike Permutter, sought to push agendas supported by Trian Partners representing influence by Perlmutter (their silent partner) though his company—seeking to elect himself and former Disney Chief Financial Officer Jay Rasulo to the company’s board in a stand-off with Disney CEO Bob Iger.
After losing that proxy battle—Disney shareholders ended up reelecting the company’s full slate of board nominees—Peltz has now sold his entire stake in the company, according to CNBC. At $US120 a share, a source told CNBC, he made about $US1 billion on the position as stocks currently trade for about $US100 per share.
Peltz stirred up discourse over the years taking aim at the way Disney’s regime changes were being handled in regards to “woke” choices, like diverse casting in films like Black Panther and women-led films, being why the company was floundering. Perlmutter was notoriously booted from Marvel over disagreements with Kevin Feige over Marvel Studios course changes when more freedoms were given to an inclusive stable of creatives. He’s known for being the reason we had to wait so long for female action figures and a Black Widow movie.
With Trian Partners’ exit, the agenda of leadership past has in some respects lost some influence. CNBC quoted Trian’s statement over the loss from April: “We are proud of the impact we have had in refocusing this Company on value creation and good governance.”
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