Part 10/12:
Analysts and observers recognize that Disney’s struggles are systemic, fueled by poor strategic decisions, especially in the streaming domain, where the company’s margins lag behind its peers. Since Iger’s return, Disney’s share value has underperformed compared to both its AFL and broader market indices, losing more than 50% of its peak value despite massive capital investments.
Moreover, there is a stark perception that Disney’s board is too closely aligned with Iger’s long tenure—many directors having served for years under his leadership—leading to concerns about objectivity and accountability. Peltz and his allies argue that fresh perspectives are critical and that the current governance setup inhibits meaningful change.