Disney (DIS) – Proxy Fight & More News – December 8, 2023

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Disney (DIS) – Proxy Fight & More News

Proxy Fight

As previously discussed, Nelson Peltz’s Trian renewed a proxy battle with Disney. This week, Ancora announced support for Peltz and requested he be given a board seat. It accused Disney of just saying the right things and wanting Peltz on the board to ensure they carry out their promises. They also rightfully accused the company of politicizing the brand, although I think it has finally learned from those mistakes.

Regardless of what happens, this is a positive for Disney shares. There are two potential outcomes here. First, the board and executives feel more pressure to deliver on their promises and Peltz loses the vote in May. Still, they feel that hot seat heating up further and know that performance will be scrutinized. Secondly, he could win and keep pushing for the positive changes already being made and more positive changes like executive compensation reductions. I’ve discussed how Peltz’s desired Disney evolution is already coming to fruition without him.

I candidly don’t understand why (or care about why) he’s still pushing so hard when they’re doing what he wants (unless they aren’t keeping their word). Regardless, I view this as a Disney shareholder win — heads or tails. Go get ‘em, Nelson.

More News

  • The actors’ strike has been resolved. Writers and actors are now both back to work. Time to go make better content.
  • As expected, Disney’s streaming bundle is now starting to roll-out.
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