JPMorgan Chase CEO Jamie Dimon Endorses Bob Iger
As his impending proxy battle with Trian Management and Nelson Peltz reaches the endgame, Bob Iger is getting a little help from his friends.
The Disney CEO was recently given the stamp of approval by nine of Walt and Roy Disney’s grandchildren. Now, it is Wall Street’s turn.
JPMorgan Chase CEO Endorses Iger
In a statement to CNBC’s David Faber, JPMorgan Chase CEO Jamie Dimon endorsed Bob Iger in his battle with Peltz, calling him an “outstanding leader” and dismissing Peltz as a distraction.
“Bob is a first-class executive and outstanding leader who I’ve known for decades. He knows the media and entertainment business cold and has the successful track record to prove it. It’s a complicated industry filled with creative talent, requiring the unique expertise and engagement skills that Bob possesses,” she said.
“Putting people on a Board unnecessarily can harm a company. I don’t know why shareholders would take that risk, especially given the significant progress the company has made since Bob came back.”
Iger’s position has been strengthened in recent weeks by Wall Street’s increased confidence in Disney’s future. Already buoyed by strong earnings, Wall Street seems to believe that Iger has finally turned things around at Disney and that better days are ahead.
Now, with the CEO of JP Morgan Chase publically supporting him, the Disney CEO will look to vanquish Nelson Peltz once and for all. The battle between Disney, Trian, and Blackwells will conclude at the Walt Disney Company annual meeting on April 3.