on Tuesday defended its decision to deny Nelson Peltz a board seat, saying the activist investor "lacked the skills and experience" to help the media and entertainment giant.
"Peltz does not understand Disney's businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem," Disney said.his bid for a board seat to rescue the company from what he called a "crisis" of overspending on the streaming business, the purchase of 21st Century Fox and failed succession planning.
Peltz told CNBC on Thursday that Disney should either jettison the streaming business or buy the rest of rival streaming service Hulu. Disney has a majority stake in Hulu; Comcast CorpDisney also needs to boost capital expenditure at its parks business, where it probably raised ticket prices "too hard," he said then.
Peltz's Trian Fund Management, which owns a 0.5% stake, or roughly $900 million in Disney, declined to comment.
Peltz' and Trian's advice can be awful. Remember the Trian paper for GE that had Immelt doing disastrous things chasing $2.00 earnings per share? That helped put the final nails in GE's coffin as a conglomerate after over 125 years.
Glad Bob is back from retirement, maybe he'll stop the nonsense going on there lately ?
An 80 year old hamburger chain CEO…No Thank You. RobertIger was the only choice. Period.
In other words he is not woke enough for them.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: THR - 🏆 411. / 53 Read more »