Disney Board of Directors -- News and Drama

[Disney Irish]

Nobody “serious” gets two extensions 6 months after coming out “retirement”

You need to look at the history here: Bob has failed succession 100% completely. There is no disputing that. He cannot be trusted.

2 Extensions in 6 months since returning? I believe its only been one since he came back in Nov 2022, which occurred in Jul 2023 to extend from Dec 2024 to Dec 2026.

So where was the 2nd extension?

I understand he had many extensions in his first go around, and you don't trust him, but lets be truthful here.

Also I believe it this time around as you have an independent director saying they are moving forward with the succession committee.

 

[Sirwalterraleigh]

2 Extensions in 6 months since returning? I believe its only been one since he came back in Nov 2022, which occurred in Jul 2023 to extend from Dec 2024 to Dec 2026.

So where was the 2nd extension?

I understand he had many extensions in his first go around, and you don't trust him, but lets be truthful here.

Also I believe it this time around as you have an independent director saying they are moving forward with the succession committee.

Staging a coup under pretenses - that actually ended up completely false - that gives you 2 years when “retired” is an extension by default

Are we really gonna be “serious” here? Or are we gonna twist to put lipstick on the pig in the room?

And you had impressed me today so far.

And there’s been nothing “independent” about this board since Tim Cook got a new job. The Sue Arnold affair should have made that clear as day.

 

[Disney Irish]

Staging a coup under pretenses - that actually ended up completely false - that gives you 2 years when “retired” is an extension by default

Are we really gonna be “serious” here? Or are we gonna twist to put lipstick on the pig in the room?

And you had impressed me today so far.

And there’s been nothing “independent” about this board since Tim Cook got a new job. The Sue Arnold affair should have made that clear as day.

Sorry I don't subscribe to the retired puppet master palace intrigue conspiracy theory as you do.

And when I say independent director, I'm talking about the new appointment of Gorman. If you don't want to consider him independent, well that is on you.

 

[Sirwalterraleigh]

Sorry I don't subscribe to the retired puppet master palace intrigue conspiracy theory as you do.

And when I say independent director, I'm talking about the new appointment of Gorman. If you don't want to consider him independent, well that is on you.

You can “subscribe” to whatever you want…your track record isn’t at the top of the leader board

And how can you attest to “independence”? Because of a press release with Mickey Mouse on the letterhead?

Barnum would love that stance.

 

[Disney Irish]

You can “subscribe” to whatever you want…your track record isn’t at the top of the leader board

And how can you attest to “independence”? Because of a press release with Mickey Mouse on the letterhead?

Barnum would love that stance.

I'm not here in some competition, so don't care what position I'm in on some fictitious "leader board".

The guy hasn't even started the job yet, I don't just write someone off before they even step into the position. Also given his track record of he himself having just gone through creating and executing his own succession plan at Morgan Stanley, yeah I tend to think of him as more independent than other directors and qualified to handle it.

 

[MarvelCharacterNerd]

I don't see any likelihood of Peltz getting a seat. Nobody wants to see him tear the company apart and sell it off piecemeal. I do see maybe a 30% chance of Rasulo getting one, however, as incitement to Bob to get moving and to make things just a little awkward and uncomfortable for him. We shall see...

 

[Sirwalterraleigh]

I don't see any likelihood of Peltz getting a seat. Nobody wants to see him tear the company apart and sell it off piecemeal. I do see maybe a 30% chance of Rasulo getting one, however, as incitement to Bob to get moving and to make things just a little awkward and uncomfortable for him. We shall see...

The problem is I’m not sure “no one” wants Peltz around?

Disney is widely held…and not because all the owners love the Polynesian. A lot of people want their damn money…
…and maybe they have forgotten - or never knew - what Walt’s face actually looked like.

 

[Magic Crush Drop]

Well as expected, its official....

Blackrock, Disney's second largest institutional investor, just threw 3 names in the ring for who they think should be added to the board, and Peltz and Rasulo are not on it.

Will make Peltz's bid even harder now, as it was already expected they wouldn't back him.

https://www.reuters.com/business/media-telecom/blackwells-capital-solicits-support-its-disney-board-nominees-2024-01-19/

The article talks about blackwell, not blackrock.i could be wrong, but they aren't the same company.

 

[Vegas Disney Fan]

The article talks about blackwell, not blackrock.i could be wrong, but they aren't the same company.

Good catch, some googling shows this was also orchestrated by Iger and Disney, so just status quo, nothing changes.

“Disney and its CEO Bob Iger secured support Wednesday from ValueAct Capital and Blackwells Capital in a board of directors proxy battle.

The investment support deals mean Disney's slate of board nominees will be backed by those investors.”

”The investment firm said the board nominees are highly qualified candidates who "have the necessary backgrounds and expertise to support Mr. Iger's efforts constructively, and complement the Board."”

Iger maintains total and unchallenged control of Disney.

MSN

www.msn.com

 

[_caleb]

Wow. Power move by Iger. And DIS stock is up on the news.

With Darroch just starting and Gorman starting in a couple weeks, I think it’ll be full steam ahead with the Direct-to-Consumer strategy (with less spending), some investment in the parks, and movement on the succession plan. My money is on Dana Walden to succeed Iger in 2026.

 

[Disney Irish]

The article talks about blackwell, not blackrock.i could be wrong, but they aren't the same company.

You're right, my bad. But as I mentioned when I posted this was expected but just wasn't official. As it was posted earlier this month in this thread they would be nominating these 3 individuals.

 

[freediverdude]

Good catch, some googling shows this was also orchestrated by Iger and Disney, so just status quo, nothing changes.

“Disney and its CEO Bob Iger secured support Wednesday from ValueAct Capital and Blackwells Capital in a board of directors proxy battle.

The investment support deals mean Disney's slate of board nominees will be backed by those investors.”

”The investment firm said the board nominees are highly qualified candidates who "have the necessary backgrounds and expertise to support Mr. Iger's efforts constructively, and complement the Board."”

Iger maintains total and unchallenged control of Disney.

MSN

www.msn.com

The key phrase there in the investment firm's quote is "support Mr. Iger's efforts constructively"- in other words, more yes men. I don't see any change coming. I think it would take not just removing Iger, but also several of his board members, to initiate a turnaround.

 

[Disney Irish]

Good catch, some googling shows this was also orchestrated by Iger and Disney, so just status quo, nothing changes.

“Disney and its CEO Bob Iger secured support Wednesday from ValueAct Capital and Blackwells Capital in a board of directors proxy battle.

The investment support deals mean Disney's slate of board nominees will be backed by those investors.”

”The investment firm said the board nominees are highly qualified candidates who "have the necessary backgrounds and expertise to support Mr. Iger's efforts constructively, and complement the Board."”

Iger maintains total and unchallenged control of Disney.

MSN

www.msn.com

Not quite the orchestration that you think it is, as Blackwells is not exactly happy with Disney's current situation either....

Disney Inks Deal With ValueAct While Blackwells Capital Nominates Board Candidates Amid Peltz Proxy Battle

ValueAct inked a deal to support Disney's slate of directors amid Nelson Peltz battle, while investor Blackwells is nominating three directors.

variety.com

There is difference between supporting constructively and unchallenged support. Valueact is the company backed orchestration that would be unchallenged support, not Blackwells in my opinion.

"Blackwells’ Aintabi responded, “We are gratified that Trian sees the merit in Blackwells nominees given they are independent, have the relevant experience and present themselves without an agenda. Our view remains that Disney shareholders do not need Nelson Peltz or Jay Rasulo on the board; if anyone is needed it’s the Blackwells’ nominees.”"

 

[Vegas Disney Fan]

Not quite the orchestration that you think it is, as Blackwells is not exactly happy with Disney's current situation either....

Disney Inks Deal With ValueAct While Blackwells Capital Nominates Board Candidates Amid Peltz Proxy Battle

ValueAct inked a deal to support Disney's slate of directors amid Nelson Peltz battle, while investor Blackwells is nominating three directors.

variety.com

There is difference between supporting constructively and unchallenged support. Valueact is the company backed orchestration that would be unchallenged support, not Blackwells in my opinion.

"Blackwells’ Aintabi responded, “We are gratified that Trian sees the merit in Blackwells nominees given they are independent, have the relevant experience and present themselves without an agenda. Our view remains that Disney shareholders do not need Nelson Peltz or Jay Rasulo on the board; if anyone is needed it’s the Blackwells’ nominees.”"

Amazing how differently 2 publications can present the same story.

Also interesting that Blackwell only has $5 million in Disney stock, I can’t find anything that says how much Valueact owns but they aren’t on any of the top stockholder lists (Trian is 7th) which also makes me question if this is the huge move it’s being made out to be. Getting support from smaller investors is helpful but it’s still going to be Vanguard, Blackstone, State street, and the other huge investors that will ultimately determine the fate of the board.

 

[Disney Irish]

Amazing how differently 2 publications can present the same story.

Also interesting that Blackwell only has $5 million in Disney stock, I can’t find anything that says how much Valueact owns but they aren’t on any of the top stockholder lists (Trian is 7th) which also makes me question if this is the huge move it’s being made out to be. Getting support from smaller investors is helpful but it’s still going to be Vanguard, Blackstone, State street, and the other huge investors that will ultimately determine the fate of the board.

Well given that all 3 have at various points stopped Peltz from doing this at various other companies, I'm not sure if they would back him this time around either.

 

[MarvelCharacterNerd]

The problem is I’m not sure “no one” wants Peltz around?

Disney is widely held…and not because all the owners love the Polynesian. A lot of people want their damn money…
…and maybe they have forgotten - or never knew - what Walt’s face actually looked like.

Granted the number isn't zero, but I think enough people know Peltz's reputation to know that he's not the best answer for an optimum financial outcome for the company in the long term. And I *think* there are still more long term investors than short term. But if they want to make a statement and help light the fire under Bob to get going with succession and simply stop any board rubber stamp complacency, Rasulo would do that.

 

[TsWade2]

You guys might not like this, but what if Nelson Peltz is right? I mean, Disney needs to do better with their movies and tv shows especially DisneyPlus. And Nelson Peltz may have a good point abiut Disney Parks. Maybe Disney should give Nelson Peltz a chance to be one of the board of directors. I don't know, maybe it's just me.

 

[Sirwalterraleigh]

Granted the number isn't zero, but I think enough people know Peltz's reputation to know that he's not the best answer for an optimum financial outcome for the company in the long term. And I *think* there are still more long term investors than short term. But if they want to make a statement and help light the fire under Bob to get going with succession and simply stop any board rubber stamp complacency, Rasulo would do that.

People on fan boards think that

The general public/investment blocks just as likely don’t care

 

[MarvelCharacterNerd]

People on fan boards think that

The general public/investment blocks just as likely don’t care

As I said, I figured there's about a 30% chance of it happening. lol

 

[Sirwalterraleigh]

You guys might not like this, but what if Nelson Peltz is right? I mean, Disney needs to do better with their movies and tv shows especially DisneyPlus. And Nelson Peltz may have a good point abiut Disney Parks. Maybe Disney should give Nelson Peltz a chance to be one of the board of directors. I don't know, maybe it's just me.

He’s a snake…an old style corporate raider

But he is NOT wrong about Disney not performing well and needing different management. We’re past that time already.