Peltz Seeks Disney Board Shakeup, Calls Streaming Strategy into Question Ahead of Shareholder Vote

Activist investor Nelson Peltz is seeking to shake up Disney's board, arguing it has overseen poor decisions leading to lagging stock price and streaming strategy. Disney calls his campaign a "vanity" project.

The 2024 Disney shareholder meeting will see a vote between competing board slates - Disney's, Peltz's, and a third by Blackwells Capital.

Peltz wants CEO Bob Iger on the board but is withholding a vote for him, while Disney fully supports Iger's leadership.

Influential firms ISS and Egan-Jones back Peltz getting a board seat, but Glass Lewis supports Disney's slate.

The vote on April 3rd could bring major changes to Disney's board and strategy if Peltz gains a foothold.