The California Public Employees’ Retirement System, also known as CalPERS, has officially cast its votes in support of activist investor Nelson Peltz and former Disney executive Jay Rasulo for the upcoming election of the Board of Directors at The Walt Disney Company, according to a recent report.
In a recent development, Disney has emerged victorious in its ongoing battle with activist investor Nelson Peltz.
Wells Fargo’s Chief Economist Erik Nelson sat down for an exclusive interview to provide insights on the current economic landscape, touching on topics such as the possibility of a recession, the potential for future Federal Reserve rate cuts, and the state of the labor market.
# Peltz criticizes Disney’s timing of earnings-related news releases
Revenue Growth Driven by Multiple Successful Ventures
Disney’s impressive revenue growth was largely attributed to the success of its diverse ventures. The streaming service Disney+, which amassed over 116 million subscribers, continues to be a major revenue driver for the company. Additionally, the reopening of parks and resorts, along with increased attendance, contributed significantly to the overall earnings.
Business magnate and activist investor, Nelson Peltz, recently voiced his concerns about The Walt Disney Company’s board of directors, claiming that they have inflicted unnecessary damage upon themselves. Peltz, known for his activism in various major corporations, believes that Disney’s board has made crucial missteps that have hampered the company’s growth and potential.
The Walt Disney Company has recently responded to the unsolicited nominations of Nelson Peltz and former Disney Chief Financial Officer James Rasulo to its Board of Directors. In an official statement, Disney defended its existing board, emphasizing their qualifications and expertise.
As the battle for control of the Walt Disney Company escalates, Trian Fund Management, a major Disney shareholder, has revealed its intention to nominate Nelson Peltz and the former Chief Financial Officer (CFO) of Disney, Jay Rasulo, to the company’s board. This move aims to challenge the current board’s composition and influence decision-making within the company.
