Disney's Strong Earnings Report and Activist Investor's Opposition

This month, after Walt Disney Co. reported stronger-than-expected earnings, it appeared that the promise of Bob Iger’s return as chief executive might finally be on track to put the magic back into the kingdom. After a year that saw the entertainment giant buffeted by Hollywood strikes, major layoffs and stock price stumbles, the earnings report (and several headline-making announcements) sent Disney’s shares soaring, achieving the stock’s best day on Wall Street in three years.

The strong showing also appeared to deflate activist investor Nelson Peltz’s efforts to mount a boardroom shakeup at Disney’s upcoming annual shareholder meeting in April. But Peltz, 81, who was once described as having “a piratical charm and a velvet glove,” refused to back down. Within days, the pugilistic investor was throwing shade on Iger and Disney’s board, and criticizing their plans to move the company forward, vowing to continue his proxy fight against Disney — his second in less than a yea

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