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Power struggle: Nelson Peltz runs for two seats on Disney’s board of directors
The power struggle at Disney intensified last night after Nelson Peltz gained influential support in his battle with the board.
Ahead of a crucial vote next month, Institutional Shareholder Services (ISS) has recommended investors elect the activist investor as a director to hold executives accountable.
But Peltz, 81, whose daughter Nicola is married to David and Victoria Beckham’s son Brooklyn, is seeking two seats on the media giant’s board amid concerns about his performance under the veteran’s leadership. boss Bob Iger.
But Iger, 73, has garnered significant support himself, including from Star Wars creator George Lucas, who said this week, “No one knows Disney better.”
Lucas, a Disney shareholder since the purchase of his company Lucasfilm in 2012, added: “Creating magic is not for amateurs.”
ISS, whose recommendations can influence hundreds of investor votes, said that as a major Disney shareholder, Peltz could ensure the board does its job well in addressing succession issues at the top and of strategy within the house of Mickey Mouse.
ISS said: “Peltz could contribute to the succession process. »