Intensifying his proxy battle with Walt Disney Co.
DIS,
ahead of its annual shareholders meeting, activist investor Nelson Peltz called for the replacement of Disney Chief Executive Bob Iger, improved streaming margins and a turnaround of its struggling studios. Peltz’s Trian Fund Management urged shareholders to add Peltz and former Disney executive Jay Rasulo to the company’s board, in a preliminary proxy statement filed with regulators Thursday. Disney faces several activist battles as it nears its shareholder meeting. Disney, which declined comment on the Trian filing, rejected Peltz and Rasulo as nominees in a regulatory filing Tuesday. The Magic Kingdom said they didn’t present substantial strategic plans for how to improve Disney.
