Dec 14, 2023 - Business

Trian nominates Peltz, ex-Disney CFO for board seats

Photo illustration of Nelson Peltz and Bob Iger and abstract shapes.

Photo illustration: Gabriella Turrisi/Axios. Photos: Marco Bello/Bloomberg via Getty Images, Michael M. Santiago/Getty Images

Trian Fund Management on Thursday nominated co-founder Nelson Peltz and former Disney CFO Jay Rasulo to serve on Disney's board.

Why it matters: The announcement escalates the intensifying proxy fight embroiling CEO Bob Iger and the company he leads.

Details: Rasulo served as CFO for Disney from 2010 to 2015 and spent more than three decades with the company. Prior to the CFO post, he oversaw the Parks division.

Of note: Trian signaled for weeks that the firm would nominate Peltz and another director or two. Thursday's announcement was the unveiling of Rasulo as the nominee joining Peltz on the Trian slate.

  • The director nomination window opened last week and closes in early January, with Disney's annual meeting and shareholder vote set for the spring.
  • Last month, Disney named ex-Morgan Stanley CEO James Gorman and former Sky CEO Sir Jeremy Darroch to its board.

What they're saying: "Jay and I have the strategic, operating, financial, and governance expertise to help Disney and are committed to working with the other members of the Board and management team to address the fundamental issues underlying the company's continued poor performance," Peltz said in the press release.

Go deeper