Disney says activist investor Nelson Peltz lacks ‘skills and experience’ to help business

Nelson Peltz’s push for a board seat at Disney came as a serious challenge to CEO Bob Iger, who recently returned from retirement to lead the company for a second time

defended its decision on Tuesday to deny a board seat to Nelson Peltz, saying the activist investor “lacked the skills and experience” to help the entertainment giant in its business.to rescue the company from what he called a “crisis” of overspending on the streaming business, the purchase of 21st Century Fox and failed succession planning.

“Nelson Peltz does not understand Disney’s businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem,” the media company said. The billionaire’s move came as a serious challenge to Disney Chief Executive Bob Iger, who recently returned from retirement to lead the company for a second time.

Iger, one of the most popular executives in Hollywood, is expected to focus on performance of the money-losing Disney+ streaming business he helped launch in 2019.Disney’s shares were up 1 per cent.Your Globe

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