Egan-Jones backs Peltz nominees in Disney board fight, cites succession concerns

Nelson Peltz's Trian hedge fund has received backing from investor advisory firm Egan-Jones for its board nominees in the Disney proxy fight. Egan-Jones cited lack of succession planning and mediocre financial performance.

Last week, ISS recommended shareholders elect Peltz to Disney's board but not his second nominee, while Glass Lewis sided with Disney in rejecting Trian's nominees.

Egan-Jones said Disney's board seems "unwilling to engage" and focused on "protecting the status quo." Disney defends its succession planning.

Iger, who returned as CEO in November after Bob Chapek's ouster, has a contract through end of 2026. Disney urges investors to vote for its 12-member board lineup.

Separately, Peltz questioned the need for "all-women" or "all-Black" Marvel movies, asking why there can't be both, drawing criticism.