Peltz, citing changes at Disney, ends push for seat on board

KIFI

Published February 9, 2023 9:38 AM

By MICHELLE CHAPMAN
AP Business Writer

Activist investor Nelson Peltz is calling off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts. Peltz phoned into CNBC Thursday to say that his firm, Trian Fund Management, got everything it wanted with the changes imposed by Iger. Peltz last month announced that he would seek a seat on the board of the entertainment company, citing a failed succession after Iger departed about two years ago and named Bob Chapek as his replacement. Chapek floundered as the chief executive and was ousted on Iger’s return.

Article Topic Follows: AP National Business

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