In a surprising turn of events, activist investor Nelson Peltz has taken aim at Disney’s film strategy, particularly their focus on inclusivity and diversity. Peltz, known for his aggressive approach in shareholder activism, has criticized Disney’s “woke” approach to filmmaking in a recent proxy fight.
Peltz specifically questioned the leadership of Marvel chief Kevin Feige and Disney CEO Bob Iger, stating that their decision to feature all women or all-Black cast in Marvel films may not be the best strategy for the company. Peltz is currently campaigning to take board seats from current members Michael B.G. Froman and Maria Elena Lagomasino, in an effort to have more influence over Disney’s decision-making process.
Interestingly, Peltz’s comments are reminiscent of former Marvel Entertainment chairman Ike Perlmutter, who had similar views on diversity in films. Disney CEO Bob Iger previously faced pushback when diversifying the slate of Marvel movies in 2019, but stood by his decision to feature Black Panther and Captain Marvel despite opposition.
On the other hand, Disney has defended Feige, citing his success and revenue generation for the company. They have also criticized Peltz and Perlmutter, arguing that their proposed changes would harm Disney and not create shareholder value.
As the tension escalates between the two sides, both Peltz and Disney are receiving support ahead of the upcoming April 3 board meeting. In a surprising move, influential advisory firm ISS has recommended adding Peltz to Disney’s board of directors, indicating that the battle for board seats is far from over. Stay tuned for more updates on this developing story.
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