Disney has announced that it has appointed two new members to its board of directors, Nelson Peltz and Bob Iger. Peltz, a founding partner of the investment management firm Trian Fund Management, has been appointed as an independent director, while Iger, the former CEO of Disney, will return to the board as an executive chairman.
Peltz is an activist investor known for pushing for change and improvement in companies that he invests in. He has invested in a number of high-profile companies, including Procter & Gamble, where he successfully pushed for changes to the company’s board and management structure. Peltz is also known for his involvement in the food and beverage industry, having served on the boards of companies like PepsiCo and Mondelez.
Iger, on the other hand, needs no introduction in the world of entertainment and media. He was the CEO of Disney for 15 years, during which time he oversaw the company’s acquisition of Pixar, Marvel, and Lucasfilm, among other major milestones. Iger stepped down as CEO in February 2020, but remained with the company as executive chairman until December 2021, when he retired from Disney.
The appointment of Peltz and Iger comes after the departure of another longtime Disney board member, Ike Perlmutter. Perlmutter, who had been with Disney since 2009, was known for his involvement in the company’s Marvel division, where he played a key role in the development of the Marvel Cinematic Universe. Perlmutter’s departure was announced in January 2022, but it is not clear why he left the company.
Disney’s decision to appoint Peltz and Iger to its board of directors is seen as a move to strengthen the company’s leadership and expertise, particularly in light of the changing landscape of the entertainment and media industry. Disney is facing increasing competition from streaming services like Netflix and Amazon, and is under pressure to adapt to the changing needs and preferences of consumers.
Peltz and Iger bring a wealth of experience and knowledge to Disney, and their appointments are expected to help the company navigate these challenges and remain competitive in the market. Peltz’s experience in the investment management and food and beverage industries, combined with his reputation as an activist investor, could help Disney make strategic decisions and drive growth. Iger, on the other hand, is a seasoned executive with deep expertise in the entertainment and media industries, and his return to the board is expected to provide valuable leadership and guidance.
In a statement, Disney’s current CEO, Bob Chapek, said that Peltz and Iger would be valuable additions to the board, and that their appointments reflected the company’s commitment to “strong governance, shareholder value, and creativity.” Chapek also thanked Perlmutter for his years of service to Disney, and wished him well in his future endeavors.
Overall, the appointment of Peltz and Iger to Disney’s board of directors is a significant development for the company, and one that is likely to have a major impact on its future direction and success. With their wealth of experience and knowledge, Peltz and Iger are well positioned to help Disney navigate the challenges and opportunities of the rapidly changing entertainment and media landscape, and to drive the company’s growth and innovation in the years ahead.