A timeline of Disney and Bob Iger vs. Nelson Peltz

Trian Partners, the alternative asset management fund co-based by activist investor Nelson Peltz, formally nominated Peltz and ex-Disney Chief Monetary Put of business Jay Rasulo for seats on Disney board in January.

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That kicked off a fierce proxy fight for the way forward for Disney, one who has attracted mettlesome-faced names and sparked increasingly bitter assaults between Disney, CEO Bob Iger, and Peltz. All while Wall Facet street has largely tuned out the drama and sent Disney inventory rising greater.

The billion-dollar board fight officially started in January. However this showdown has been in the making for added than a yr. It involves a head on the company’s annual shareholders assembly on Wednesday, where traders will vote on who gets the board seats.

Listed below are essentially the main moments in the fight for Walt Disney’s board.


Jan. 12: Trian recordsdata paperwork with the Securities and Alternate Commission to nominate Peltz as a director of Disney’s board.

Jan. 17: Disney tells shareholders that Peltz “would now not perceive Disney’s commerce and lacks the abilities and skills to support the board in handing over shareholder value in a with out discover shifting media ecosystem.” Disney says Peltz and then-Marvel Leisure Chairman Issac Perlmutter have tried to acquire Peltz a seat on the board at least 20 occasions since July 22, 2022.

Feb. 09: Peltz ends his convey for a board seat after Disney pronounces a restructuring conception that can end result in $5.5 billion in financial savings and about 7,000 job cuts.

March 29: Disney lays off Perlmutter as portion of the restructuring.

Oct. 30: Pelmutter affords Trian total vote casting energy over his Disney shares, raising Trian’s shares to 33 million — for the time being value about $3.5 billion.

Nov. 30: Peltz begins his 2nd public convey for Disney board seats. Disney says Peltz’s companion Perlmutter has a “longstanding personal agenda” in opposition to Iger.


Jan. 16: Disney names its 12 nominees for the board of directors.

Jan. 18: Trian recordsdata paperwork with the SEC concerning its nomination of Peltz and aged Disney CFO Jay Rasulo for seats on Disney’s board of directors.

March 04: Trian releases a 133-web page paper in outlining Peltz’s plans for the company, which embody finishing up a winning CEO succession, aligning performance-based completely mostly compensation with shareholder value, and growing a style to attain margins connected to Netflix’s 15-20% by 2027.

March 13: JPMorgan Dart CEO Jamie Dimon endorses all of Disney’s candidates.

March 18: The proxy advisory firm Glass Lewis endorses all of Disney’s candidates. 

March 19: George Lucas, the Smartly-known person Wars creator and the largest person investor in Disney, backs Iger and the the relaxation of Disney’s nominees.

March 21: The proxy advisory firm Institutional Shareholder Products and companies (ISS) endorses Peltz, however withholds its suggestion for Rasulo.

March 22: In an interview with the Monetary Instances, Peltz criticizes the be conscious file of Marvel Studios President Kevin Feige and takes shots on the studio’s movies The Marvels and Dark Panther. “Why enact I in fact must have a Marvel that’s all ladies folks?” he tells the outlet. “No longer that I in fact have the relaxation in opposition to ladies folks, however why enact I in fact must enact that? Why can’t I in fact have Marvels which will likely be both? Why enact I need an all-Dark cast?”

March 25: Disney sends a letter to shareholders condemning Peltz’s comments. “Imagine the wreck Peltz would enact in Disney’s boardroom with these views,” the letter says. “The surest capability to bog down our artistic development is oversight from an 81-yr-venerable hedge fund supervisor with out a artistic skills.”

March 26: The proxy advisory firm Egan-Jones endorses both Peltz and Rasulo.

April 3: Disney will retain its annual shareholders assembly.

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