ISS Backs Activist Peltz's Bid for Disney Board Seats, Cites Need for Oversight on Succession Planning

Activist investor Nelson Peltz received endorsement from ISS proxy advisory firm for 2 seats on Disney's board. ISS said Peltz could help ensure proper CEO succession planning.

Peltz argues Disney mishandled succession after Bob Iger, lost creative spark, and failed to harness new technology. Disney dismissed Peltz's qualifications.

ISS acknowledged Disney made positive changes after bringing Iger out of retirement in 2022, but still needs more oversight.

ISS recommends shareholders vote for Peltz for his experience serving public company boards to keep Disney on track after Iger departs.

As annual meeting nears, both sides lining up high-profile supporters. Some executives wrote to Disney supporting Peltz.