Trian Fund Management Increases Stake in Disney, Seeks Board Seats
Trian Fund Management, led by activist investor Nelson Peltz, has recently raised its stake in Disney and is expected to request multiple board seats, including one for Peltz himself. According to the Wall Street Journal, Trian now holds one of the largest stakes in Disney, valued at over $2.5 billion, after increasing its ownership to more than 30 million shares.
Trian believes that Disney’s shares are undervalued and that the company would benefit from a more focused board. This move comes after Peltz previously abandoned his pursuit of a board seat earlier this year, following Disney CEO Bob Iger’s announcement of cost-cutting measures and plans to make the streaming business profitable.
The window for shareholder nominations for board seats at Disney will be open from December 5 to January 4, as stated in Disney’s proxy materials. Both Disney and Trian have not yet responded to requests for comment.
This development highlights Trian’s confidence in Disney’s potential and its desire to actively participate in shaping the company’s future. As one of the largest investors, Trian’s increased involvement could bring fresh perspectives and strategic insights to the table, ultimately benefiting Disney and its shareholders.