Elon Musk Backs Activist Investor's Bid for Disney Board Seat Amid Proxy Fight

Elon Musk endorsed Nelson Peltz for a Disney board seat, saying Peltz would improve Disney's share price and serve shareholders' interests.

Activist investor group Trian, led by Peltz, argues it can "restore the magic" at Disney which has struggled recently with performance.

Disney has pushed back against Trian's claims, citing progress executing key priorities and reinvigorating creative engines.

Disney's board nominees include CEO Bob Iger, Mary Barra, Safra Catz, and others.

Legendary filmmaker George Lucas and JP Morgan's Jamie Dimon have endorsed Disney and Bob Iger amidst the proxy fight with Trian.