Disney CEO Bob Iger speaks with CNBC’s David Faber at Allen & Co. The annual meeting is held in Sun Valley, Idaho.
David A. Grogan | David A. Grogan CNBC
JPMorgan CEO Jamie Dimon expressed his approval disney Chief executive Bob Iger is in a proxy fight with activist Trian Partners, CNBC’s David Faber has learned.
Dimon issued the following statement to Faber about Iger:
“Bob is a top-notch executive and outstanding leader that I have known for decades. He knows the media and entertainment industry inside out and has a successful track record to prove it. It is a complex industry filled with creative talent, It requires the unique expertise and dedication that Bob possesses. Putting people on the board unnecessarily could harm the company. I don’t know why shareholders would take that risk, especially given the significant gains the company has made since Bob’s return. progress.”
Trian, led by Nelson Peltz, has launched a bitter proxy fight against Disney, asking investors to nominate him and former Disney CFO Jay Rasulo Rasulo) to the board of directors.on page 133 white paper Earlier this month, Peltz called for an overhaul of Disney’s legacy TV channels, which he believes have been shrinking.
The activist also wants Disney to aim for “Netflix-like profit margins” of 15% to 20% by 2027.
This is breaking news. Please check back for updates.
