{"id":220783,"date":"2024-04-05T12:02:52","date_gmt":"2024-04-05T12:02:52","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/05\/disney-boss-calls-nelson-peltz-an-unwanted-distraction\/"},"modified":"2025-06-25T17:19:15","modified_gmt":"2025-06-25T17:19:15","slug":"disney-boss-calls-nelson-peltz-an-unwanted-distraction","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/05\/disney-boss-calls-nelson-peltz-an-unwanted-distraction\/","title":{"rendered":"Disney boss calls Nelson Peltz an unwanted distraction"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/04\/GettyImages-2005959370-e1712317057495.jpg?w=2048\" \/><\/p>\n<p>Bob Iger can go back to work overhauling <a href=\"https:\/\/fortune.com\/company\/disney\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">Disney<\/a> now that activist investor Nelson Peltz has been dispatched, and the veteran CEO for one believes that\u2019s a good thing for shareholders.\u00a0<\/p>\n<div>\n<p>On Thursday, the company\u2019s chief executive dismissed any notion that having a troublemaker on the board could sharpen management\u2019s focus. In fact, just the opposite would have likely occurred, Iger insisted.<\/p>\n<p>\u201cI just didn\u2019t think it was necessary to essentially bring Nelson Peltz onto the board, nor did the board feel that given the fact that he didn\u2019t bring any new ideas,\u201d he told CNBC\u2019s David Faber in\u00a0\u00a0an\u00a0<a href=\"https:\/\/www.cnbc.com\/video\/2024\/04\/04\/disney-ceo-bob-iger-nelson-peltz-didnt-bring-any-new-ideas.html\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">interview<\/a>. \u201cIf anything, there was a belief it could be a distraction and end of being more destructive than productive.\u201d<\/p>\n<p>During Wednesday\u2019s annual shareholder meeting\u2014over within an hour\u2014the Trian Partners co-founder put forward his case for why he and former Disney finance chief Jay Rasulo should be elected to the board over Maria Elena Lagomasino and Michael Froman, whose seats they contested. The duo lost by what the company called a \u201c<a href=\"https:\/\/otp.tools.investis.com\/clients\/us\/the_walt_disney_company\/SEC\/sec-show.aspx?FilingId=17427686&amp;Cik=0001744489&amp;Type=PDF&amp;hasPdf=1\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">substantial margin<\/a>\u201d.<\/p>\n<p>Iger denied the victory was a personal one, but he did not dispute Faber\u2019s assertion that he would have accelerated his departure plans had shareholders not placed their trust in the full slate of the\u00a0board\u2019s nominees.<\/p>\n<h2 class=\"wp-block-heading\">Iger ignores Musk vendetta<\/h2>\n<p>\u201cI\u2019m back to where I was before all this happened, which is spending 100% of my time on this company and I\u2019ll just leave it at that,\u201d Iger said.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p><iframe title=\"Nelson Peltz on Disney proxy battle: Hope Bob Iger can keep his promises\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/hjofIfrdmSY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<\/figure>\n<p>The Disney boss also addressed the issue of Elon Musk\u2019s vendetta against Iger after he led an exodus of advertisers off <a href=\"https:\/\/fortune.com\/company\/twitter\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">X<\/a> late last year, pushing the social media company bought by the <a href=\"https:\/\/fortune.com\/company\/tesla\/\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">Tesla<\/a> CEO one step closer to bankruptcy.\u00a0<\/p>\n<p>\u201cI ignore it, there\u2019s no relevance to the Walt Disney Company or to me,\u201d Iger\u00a0<a href=\"https:\/\/www.cnbc.com\/video\/2024\/04\/04\/disney-ceo-bob-iger-on-elon-musk-people-have-been-coming-after-me-and-the-company-for-years.html\" target=\"_blank\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">said<\/a>. \u201cPeople have been coming after me and the company for years. I don\u2019t get distracted by those things.\u201d<\/p>\n<p>Musk, dubbed \u201c<a href=\"https:\/\/fortune.com\/2023\/09\/01\/elon-musk-biography-twitter-parag-agrawal-walter-isaacson\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">ruthless<\/a>\u201d by his own sanctioned biographer, has gone after Iger ever since. It started with a now famous\u00a0<a href=\"https:\/\/fortune.com\/2023\/11\/30\/elon-musk-x-linda-yaccarino-twitter-advertisers-free-speech-dealbook\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">slew of expletives<\/a>, continued with multiple calls for the board to sack him, and concluded with Musk promising to reward shareholders by\u00a0<a href=\"https:\/\/fortune.com\/2024\/04\/03\/elon-musk-disney-bob-iger-nelson-peltz-proxy-bill-ackman-agm\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">buying Disney stock<\/a>\u00a0should Peltz be elected.\u00a0<\/p>\n<p>After listening to the interview with Iger, Peltz preferred not to divulge to CNBC\u2019s Jim Cramer whether his next move would be to buy or sell the roughly 3.5 million Disney shares he manages. But he insists he won\u2019t be going away, and promised to return if the business didn\u2019t turn around and the stock price dropped again.<\/p>\n<p>\u201cI hope Bob can keep his promises, I hope they can do all the things they assured us they were going to do,\u201d he said. \u201cIf they don\u2019t, you\u2019ll see me again, Jim.\u201d<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\">Subscribe to the new Fortune CEO Weekly Europe newsletter to get corner office insights on the biggest business stories in Europe. <a href=\"https:\/\/fortune.com\/newsletters\/ceo-weekly-europe?&amp;itm_source=fortune&amp;itm_medium=article_tout&amp;itm_campaign=ceo_weekly_europe\" target=\"_self\" rel=\"noopener\" class=\"sc-76811d68-0 jyYcOa\">Sign up<\/a> for free.<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/fortune.com\/2024\/04\/05\/disney-bob-iger-elon-musk-nelson-peltz-trian-activist-investor-proxy-war\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bob Iger can go back to work overhauling Disney now that activist investor Nelson Peltz has been dispatched, and the veteran CEO for one<\/p>\n","protected":false},"author":1,"featured_media":220784,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[149],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220783"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=220783"}],"version-history":[{"count":3,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220783\/revisions"}],"predecessor-version":[{"id":330524,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220783\/revisions\/330524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/220784"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=220783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=220783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=220783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}