Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, Florida, on Thursday, March 30, 2023.
Marco Bello | Bloomberg | Getty Images
Trian Fund Management on Thursday announced it was nominating its CEO Nelson Peltz and former Walt Disney CFO Jay Rasulo to the media giant’s board, as the firm wages a contentious proxy fight with Disney.
“Unfortunately, the Board and CEO appear to have no conviction that things will get better,” Trian said in a press release Thursday.
The announcement comes after Trian reignited its proxy battle with Disney last month. The firm announced it was seeking two board seats for Peltz and another media executive, following what it called “significant value destruction and missteps” that the Board oversaw.
Disney has said the proxy fight is apparently in part due to a personal grudge held by Peltz’s ally and former Marvel boss Ike Perlmutter. Trian has oversight of shares owned by Perlmutter, who has been an outspoken critic of Disney CEO Bob Iger.
The fight launched by Trian last month came the morning after Disney appointed Morgan Stanley CEO James Gorman and former Sky TV boss Jeremy Darroch to its board, in what appeared to be a move to temper Trian’s discontent.
Disney did not immediately respond to CNBC’s request for comment.
