Los Angeles, CA – Activist investor Nelson Peltz is making waves in the Disney board proxy fight, targeting the company’s “woke” film strategy, with a focus on hit films like Black Panther and The Marvels.
In a recent interview with The Financial Times, Peltz raised concerns about Marvel chief Kevin Feige’s leadership and questioned the overall movie strategy under Disney CEO Bob Iger. Although not actively campaigning to replace current board members Michael B.G. Froman and Maria Elena Lagomasino, Peltz is challenging the direction of Feige’s leadership and the future strategy of the company.
Peltz emphasized the importance of entertainment over messaging in films, questioning the need for gender and racial diversity themes in Marvel movies. His sentiments echo past criticisms from former Marvel Entertainment chairman Ike Perlmutter, who has expressed support for Peltz in the proxy fight against Disney.
Disney, on the other hand, remains committed to diversifying its slate of Marvel movies and promoting inclusion in its storytelling. The company defended Feige’s successful track record at Marvel, generating billions in box office revenue, while criticizing Peltz for lacking a deep understanding of the entertainment business.
As the April 3 board meeting approaches, both sides are actively campaigning for support, with influential figures like former CEO Michael Eisner and Star Wars creator George Lucas backing Iger and the current board. Despite receiving support from advisory firm Institutional Shareholder Services, recommending Peltz’s addition to the board, Disney continues to push back against his proposed changes.
The clash between Peltz and Disney highlights broader debates within the entertainment industry regarding diversity, representation, and the balance between creative vision and financial success. As the proxy fight intensifies, the outcome of the board meeting will have significant implications for the future direction of Disney and its approach to storytelling in the evolving media landscape.