Disney Board Room Battle: Bob Iger Defeats Nelson Peltz

Recently, the Disney boardroom was converted into a war zone. The participants? Disney CEO Bob Iger and activist investor Nelson Peltz. Now, after a long battle, that lasted for more than a year, Bob Iger has defeated Nelson Peltz. According to a person familiar with the matter, around three-quarters of the shareholders, including Vanguard and Blackrock, voted in favor of Bob Iger, while only 30 percent of people voted in favor of Nelson Peltz. 

This is one of the most high-profile and long-lasting boardroom quarrels we have ever seen.  Started in January 2023, the proxy fight is now finally over. You might wonder what is the reason behind this proxy fight. Well, as always, this fight was also for money and power. Nelson Peltz had urged the board to put him and a former disney executive, Jay Rasulo, on the board again. Moreover, he also urged that the board must deny seats to two Disney current disney directors. The directors he urged to deny seats are Michael Froman and Maria Lagomasino. 

However, Nelson’s main criticism was that Iger was unsuitable for the position of CEO because he didn’t have ‘enough skin in the game.’ He also stated that the Disney board had botched Iger’s succession planning. The current CEO of Disney, Bob Iger, had to retire in 2022 and appointed Bob Chapek as the new CEO. However, Iger had to reclaim his position after the board fired Chapek from his CEO position. 

After winning this fight, Bob Iger is all set to fight his next battle: choosing his heir apparent. He will retire in 2026 after his contract expires. As of now, there is no clue as to who will be the next CEO of the biggest entertainment company on the face of the planet. According to CNBC, there are many people in contention, including ESPN head Jimmy Pitaro, Dana Walden, the chairman of Disney park business John D’Amaro and Alan Bergman. CNBC also stated that an external candidate isn’t out of the picture yet, and only time will tell how this will unfold. For now, Disney has won their fight and is looking to improve their services and increase their revenue. 

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