Part 3/8:
The Battle for Control: Activists and Insiders Clash
Amidst these struggles, a fierce power struggle brewed behind the scenes. Nelson Peltz, a prominent activist investor through his firm Trianc, mounted a proxy fight aimed at shaking up Disney's board and demanding a reset of the company’s strategy. Peltz and his allies accused Disney’s leadership of cozy relationships with certain insiders and a failure to deliver shareholder value.
Supporters like Ike Pearl Muter, a former Marvel executive, and J. Raso, Disney’s former CFO, sought to reassert influence by attempting to secure board seats for themselves and Peltz. Their goal? To induce change from within by installing more business-savvy and assertive directors who would challenge Iger’s management approach.