Disney Dodges Hostile Takeover: Billionaire’s Bullying Bid Falls Flat

For months, Bob Iger has been fighting many wars on all fronts. He has been struggling to stem the bleeding at Disney+, something he is actually managing to do. He has also been fighting with Florida Governor Ron DeSantis, a fight that started in 2021 while Bob Chapek was CEO. Thankfully, that also appears to be on the verge of ending. As if those weren’t enough, Iger has also been fighting to convince shareholders that he is the best person to lead the company.

For the second time in just over a year, Trian Fund Management founder Nelson Peltz has been fighting to gain power on Disney’s Board of Directors. The first time Peltz tried to get a board seat, his efforts failed before they even began. However, this year, he has been more determined than ever.

Peltz said that shareholders have given Bob Iger more than enough time to “right the ship” when it comes to increasing Disney’s value. Peltz — who appears to be solely focused on making shareholders money — is also trying to get former Disney CFO, Jay Rasulo, on the Board of Directors as well.

Related: The Danger of Disney’s Hostile Billionaire, Nelson Peltz

But we now know that Peltz’s efforts have failed.

On April 3, Disney held its Annual Shareholders meeting, and during that meeting, it was shared that Nelson Peltz and Jay Rasulo had NOT gained enough votes to get seats on Disney’s board.

Related: Thorn in Disney’s Side Claims They Know “Root Cause of Disney’s Underperformance”

Prior to the shareholder’s vote, Bob Iger, and Disney as a whole, had been working hard to make sure that Peltz and Rasulo did not get anywhere near the Board of Directors. Disney has accused Peltz of having a “vendetta” against the company, due to his close relationship with fired Marvel executive, Ike Perlmutter. Perlmutter was fired in March 2023, and claimed that it was partly due to his support of former President Donald Trump and Disney foe, Governor Ron DeSantis.

Peltz claimed that shareholders have been “let down” by Disney’s Board of Directors, due to its lack of “alignment and accountability.” However, many were worried about what that “alignment” would be, should Peltz and Rasulo gain the two seats they coveted. Peltz recently railed against Marvel movies that had “all-black” and “all-female” casts.

With Peltz and Rasulo failing to get the seats they wanted, shareholders have shown that they support Disney’s CEO and the direction he is taking Disney in. Despite frequent accusations of being “too woke”, Iger has continued to support Disney’s drive to create more content that reflects the world as it is today.

Prior to the meeting, Iger had gained some serious support that most likely helped sway a number of voters. Iger received the endorsement of the family of Walt Disney, former Disney CEO Michael Eisner, and even Lucasfilm founder and Star Wars creator, George Lucas.

Do you think Disney shareholders made the right call in voting against Nelson Peltz? Let us know in the comments!

This post originally appeared on Disney Dining.