Disney defends Iger, says activist Peltz has 'no track record' in big media

Nelson Peltz

David A. Grogan | CNBC

disney pushed back again on Nelson Peltz’s bid for a board seat Tuesday, as the entertainment giant’s proxy fight with the investor and his activist agency, Trian Fund Management, requires condition.

Disney reported in a securities submitting Tuesday that its board was in which it essential to be to shift the enterprise forward. The company also defended CEO Bob Iger’s previous acquisitions and stated Peltz didn’t have an knowledge of Disney’s business, lacked the expertise to drive shareholder worth and offered no approach.

“Peltz has no track record in substantial cap media or tech, no answers to provide for the evolving media landscape,” Disney stated in an investor presentation that was released Tuesday.

Final 7 days, Peltz laid out his scenario for a proxy battle with Disney on CNBC’s “Squawk on the Street” after Trian submitted a preliminary proxy statement on the lookout for a seat on the board.

Peltz lifted concerns with how shareholder benefit has eroded not long ago and Disney’s $71 billion acquisition of Fox in 2019. Trian has also referred to as out what it identified as lousy corporate governance, together with unsuccessful succession organizing and Disney’s deficiency of engagement with Trian in the latest months.

–CNBC’s David Faber contributed to this report.

This story is acquiring. You should verify back again for updates.

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