After calling off a proxy fight with Disney in February, activist investor Nelson Peltz is back with a renewed push for a seat on the company’s board — with some added firepower from former Marvel Entertainment chairman Ike Perlmutter.
Peltz and his firm Trian Fund Management previously called on Disney leadership to make changes to its corporate governance, strategy and operations and capital allocation. Specific asks have included developing a succession plan and aligning compensation with performance, cutting costs and reinstating Disney’s dividend by fiscal year 2025.
The latest challenge from Peltz and Perlmutter comes as Disney CEO Bob Iger continues to face a myriad of challenges, including a declining linear business and an unprofitable streaming platform. Iger also is engaged in a search for both a successor and permanent chief financial officer. The House of Mouse has embarked on a massive cost-cutting initiative and is even considering selling off assets.
Peltz and his firm Trian Fund Management previously called on Disney leadership to make changes to its corporate governance, strategy and operations and capital allocation. Specific asks have included developing a succession plan and aligning compensation with performance, cutting costs and reinstating Disney’s dividend by fiscal year 2025.
The latest challenge from Peltz and Perlmutter comes as Disney CEO Bob Iger continues to face a myriad of challenges, including a declining linear business and an unprofitable streaming platform. Iger also is engaged in a search for both a successor and permanent chief financial officer. The House of Mouse has embarked on a massive cost-cutting initiative and is even considering selling off assets.
- 11/1/2023
- by Lucas Manfredi
- The Wrap
The sudden departure of Disney chief financial officer Christine McCarthy from her role citing family medical leave poses complications for both filling that role permanently and succession plans to install a new CEO to replace Bob Iger, according to Wall Street analysts and industry experts.
McCarthy’s exit creates a domino effect that not only prolongs the search for her replacement until Iger is able to choose a successor but may push the chief executive to extend his contract beyond its initial two years in order to ensure the company is stable.
“It slows everything in the near-term because they have to do a search for the new CFO which has to include external parties,” Laura Martin, senior entertainment and internet analyst at Needham & Company told TheWrap. “So a lot of times to replace a CFO of this caliber, it takes a year.”
Also Read:
Disney CFO Christine McCarthy’s...
McCarthy’s exit creates a domino effect that not only prolongs the search for her replacement until Iger is able to choose a successor but may push the chief executive to extend his contract beyond its initial two years in order to ensure the company is stable.
“It slows everything in the near-term because they have to do a search for the new CFO which has to include external parties,” Laura Martin, senior entertainment and internet analyst at Needham & Company told TheWrap. “So a lot of times to replace a CFO of this caliber, it takes a year.”
Also Read:
Disney CFO Christine McCarthy’s...
- 6/19/2023
- by Lucas Manfredi
- The Wrap
Click here to read the full article.
Jamie Lee Curtis, Janelle Monáe, Margot Robbie, Gracie Abrams and Addison Rae on Wednesday presented 1 million in university scholarships to high school seniors from underserved communities across Los Angeles with full-ride college scholarships.
The announcement was made at The Hollywood Reporter’s 2022 Women in Entertainment breakfast gala, presented by Lifetime, which was held at the Fairmont Century Plaza in Los Angeles, in conjunction with the publication of the Women in Entertainment Power 100 list.
Curtis and Monáe teamed to kick off the scholarships presentation, with Curtis announcing that Lifetime would be presenting a 10,000 scholarship to each graduating mentee to the school of their choice.
“Janelle and I have a little surprise for the class of 2023, thanks to Casey Wasserman. Most of you don’t know this, but I am Casey’s godmother. I adore Casey and his family, and especially his grandmother and my godmother,...
Jamie Lee Curtis, Janelle Monáe, Margot Robbie, Gracie Abrams and Addison Rae on Wednesday presented 1 million in university scholarships to high school seniors from underserved communities across Los Angeles with full-ride college scholarships.
The announcement was made at The Hollywood Reporter’s 2022 Women in Entertainment breakfast gala, presented by Lifetime, which was held at the Fairmont Century Plaza in Los Angeles, in conjunction with the publication of the Women in Entertainment Power 100 list.
Curtis and Monáe teamed to kick off the scholarships presentation, with Curtis announcing that Lifetime would be presenting a 10,000 scholarship to each graduating mentee to the school of their choice.
“Janelle and I have a little surprise for the class of 2023, thanks to Casey Wasserman. Most of you don’t know this, but I am Casey’s godmother. I adore Casey and his family, and especially his grandmother and my godmother,...
- 12/7/2022
- by Lexy Perez
- The Hollywood Reporter - Movie News
She's battled cancer and has multiple sclerosis, but no one seems more eager to launch Mitt Romney's next presidential campaign than his wife-maybe not even Mitt.
To hear Mitt Romney tell it, he's still not sure if he wants to run for president. Ann, his wife of 41 years, is not nearly as coy.
Related story on The Daily Beast: Mitt's Big Money Shell Game
"I know Mitt as a person, a very good person. I have also seen him as a leader. And I, for one, would like to see him lead the country as President of the United States," she told the capacity crowd at Cpac on February 11.
Different versions of these words are often heard coming from the mouths of political spouses, whose job it is to be publicly seen as fully behind their partner's candidacies. And since her husband's first run for office in 1994-a quixotic...
To hear Mitt Romney tell it, he's still not sure if he wants to run for president. Ann, his wife of 41 years, is not nearly as coy.
Related story on The Daily Beast: Mitt's Big Money Shell Game
"I know Mitt as a person, a very good person. I have also seen him as a leader. And I, for one, would like to see him lead the country as President of the United States," she told the capacity crowd at Cpac on February 11.
Different versions of these words are often heard coming from the mouths of political spouses, whose job it is to be publicly seen as fully behind their partner's candidacies. And since her husband's first run for office in 1994-a quixotic...
- 2/20/2011
- by Shushannah Walshe
- The Daily Beast
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.