After Losing Disney Proxy Fight, Nelson Peltz Claims About $1B In Profit On Stock Gains; Won’t Rule Out A Third Effort To Shake Up Board
deadline.comActivist investor Nelson Peltz, reflecting on his losing proxy battle with Disney, says he will “watch and wait” to see if the company keeps its promises.
If it doesn’t, he told CNBC in an interview Thursday, “you’ll see me again.” Asked by host Jim Cramer if reports were true that his firm, Trian Fund Management, had made $300 million on its Disney investment, Peltz called that figure “dramatically wrong.” When Cramer wondered if the gains were actually in the $1 billion range, Peltz replied, “that sounds more like it.” The wavering performance of Disney’s stock performance, which brought it to multi-year lows last year, was one of the main complaints of Trian, along with the company’s approach to succession, streaming and film production.
Since the proxy effort began, shares have rebounded strongly, climbing more than 35% in 2024 to date. Trian’s months-long quest to install Peltz and former Disney CFO Jay Rasulo on the company’s board of directors met with defeat Wednesday at the company’s annual shareholder meeting.
Earlier on CNBC, Disney CEO Bob Iger had struck a largelyconstructive tone, saying the expensive battle had ended up bringing the company into closer touch with its shareholders.
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