Peltz Ends Disney Board Bid – A Win for Both Peltz and the Disney Board?

 by Ray Keating

News/Analysis

DisneyBizJournal.com

February 9, 2023

 

Chalk up a win for Disney CEO Bob Iger and the company’s board, as activist and mega-Disney investor Norman Peltz has ended his bid for a seat on the Disney board. Or is it a win for Peltz? Perhaps both?

Peltz liked what Iger had to say about restructuring and costs savings on the Disney earnings call on February 8.

 

Indeed, the agenda laid out by Iger basically was what Peltz had been arguing for, that is, reducing costs, rationalizing the streaming business with a focus on profits, and bringing back a Disney dividend. Obviously, Iger’s successor remains an open question – another Peltz concern – but one can argue that that process has been rationalized as well since Iger first came back, given that the soon-to-be Disney chairman, Mark Parker, will be heading up that work.

 

On CNBC this morning, Peltz explicitly told Jim Cramer, “Now Disney plans to do everything we wanted them to do. We wish the very best to Bob [Iger], this management team and the board. We will be watching. We will be rooting.”

 

Sounds like a win-win.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right? 

 

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• The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

• Cathedral: An Alliance of Saint Michael Novel. Signed paperbacks and/or paperbacks, hardcovers and the Kindle edition at Amazon. 

 

• The Pastor Stephen Grant thrillers and mysteries. The latest in the series is Persecution: A Pastor Stephen Grant Novel. Get the signed books here, or paperbacks and Kindle editions right here.

 

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Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.