Disney’s Leadership Defeats Anti-‘Woke’ Investor in a High-Stakes Shareholder Battle
In a battle much more reminiscent of Succession than Fantasia, Disney’s kingpin Bob Iger turned back activist investors who attempted to wrest control of the company away from him on Wednesday in a dramatic shareholder vote.
https://time.com/6963088/disney-shareholder-meeting-bob-iger/
Another great move for the stock. You’re going to wish Peltz got his way. Disney is dying and jobs will die with it. Enjoy the mess.
Yes, we can finally move on to the stock dropping again, overspending on woke movies, park maintenance budgets slashed and new rides that don't work. Glad we're finally rid of that snake who was going to demand we start making money again. BTW, stock was around $120 when he bailed out and now sits around $96. Oh yeah, and he sold all of the stock he had and racked up a profit of over a billion dollars.
No fan of either, and the “resolution” just mean a Peltz type isn’t immediately on the horizon. Still does not address fundamental lack of customer focus (content, pricing, experience) that will depress results into next few years if not longer. Iger has done less with more maneuver room than next CEO will have. Regardless of your politics, we should all agree this is a badly run company on its way to breakup/sale.
This situation may be over but the end is nowhere in sight. The company still has quite a few challenges to overcome. Unclear whether layoffs are off the table.
I think we can all agree that it didn't matter who won, employees and customers are going lose either way.
Yeah, the proxy battle isn’t over though. Peltz isn’t going anywhere.