“Why do I have to have a Marvel that’s all women?” billionaire investor Nelson Peltz lamented as he criticized Marvel and Disney for being “too woke.”
Peltz, aiming to join Disney’s board, remarked that Disney’s films have been too focused on delivering a message while failing on quality storytelling.
During an interview with the Financial Times, Peltz remarked, “Why can’t I have Marvels that are both? Why do I need an all-black cast?”
The billionaire activist remarked, “People go to watch a movie or a show to be entertained.”
“They don’t go to get a message.”
Peltz has been waging a proxy war to gain two seats on the entertainment giant. The main point of contention was Disney’s CEO, Bob Iger, who refused to shift the company’s “woke” trend.
Trian Partners, Peltz’s investment firm, seeks more as they control $3.5 billion worth of Disney’s stock.
Disney has been in a rough patch since last year; its shares have dropped 39 percent in the past few weeks as they removed former CEO Bob Chapek and have traded at an eight-year low.
“[Disney] say we [Trian Partners] know nothing about the movie business—we don’t claim we do—but I don’t think they do, with five big losers in a row,” he said.
“They’ve lost first place in animation; they’ve lost first place in features. Maybe it’s time to change management in those divisions.”
Peltz also called on the company to cut costs and invest in Disney+, which failed to deliver revenues.
His company, Trian, added that many of Disney’s issues are “self-inflicted and need to be addressed.” It also demanded the board detail how capital is spent and reinstate dividends by fiscal 2025.
Despite Disney’s insistence, Peltz shared similar opinions with former Marvel Entertainment chairman and CEO Ike Perlmutter.
Iger recalled Perlmutter saying, “Female superheroes never drive big box office,” in a memoir released in 2019.
Iger competes with Peltz for the position on Disney’s board, which is scheduled to convene in April. The current Disney CEO has CEO Michael Eisner, Star Wars creator and presumably the company’s largest individual shareholder George Lucas, the late Apple CEO Steve Jobs’ widow and also a significant shareholder Laurene Powell Job, as well as Walt and Roy Disney’s grandchildren, backing. Meanwhile, Institutional Shareholder Services supports Peltz and Trian Partners.
Disney continues to discourage shareholders from supporting the Trian Group owner.
“The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value,” they said in a statement.
“While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, the Board does not endorse the Trian Group nominee and recommends that shareholders not support its nominee and instead vote for all the company’s nominees.”
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Author: The Raging Patriot
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