The Walt Disney Company and Blackwells Denounce Nelson Peltz’s Marvel Comments
Earlier today, activist investor Nelson Peltz pandered to the anti-Disney crowd by stating that Disney, and more specifically Marvel Studios, had gone “woke.”
After arguing that Disney had become too focused on messaging at the expense of quality storytelling, Peltz took aim at The Marvels and Black Panther.
Photo: Marvel
“Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that?” he said. “Why can’t I have Marvels that are both? Why do I need an all-Black cast?”
Sounding suspiciously like former Marvel President Ike Perlmutter, who is largely funding Peltz’s proxy battle, Peltz also questioned whether or not Kevin Feige was the right one to lead Marvel.
Former Marvel CEO Ike Perlmutter (AP Photo/Susan Walsh)
Following the publication of Peltz’s comments, both Disney and the other activist investor in the room, Blackwells, quickly jumped on his remarks.
Disney Says Peltz Will “Impede Our Creative Process”
“Imagine the damage Peltz would do in Disney’s boardroom with these perspectives,” Disney said in a statement.
The company then went on to highlight Feige’s “unparalleled track record at Marvel, generating ~$30bn in global box office, making him the highest grossing producer of all-time.” They also warned that Peltz and his “silent partner” Ike Perlmutter would “jeopardize our strategic transformation.”
Photo: The Walt Disney Company
Peltz, Disney said, “brings no additive skills to the Board, doesn’t understand our business and has no plan to create shareholder value” and that “the surest way to impede our creative progress is oversight from an 81-year-old hedge fund manager with no creative experience.”
Photo: restorethemagic.com
“Disney’s strategic transformation is working. Our Board and management are delivering on our commitments to create superior, sustainable shareholder value,” the statement concluded. “Do not let Nelson Peltz drive us off course with his outdated beliefs, uninformed ideas, and self-serving agenda.”
Blackwells Says the Choice Does Not Have to be Between Peltz and the Board
Blackwells, who unlike Peltz is not looking to replace any Disney candidates on the board, called Peltz’s comments “an affront to Disney’s customers, employees and shareholders, and ultimately should disqualify him from sitting on the Disney Board.”
“Shareholders, particularly those who espouse the principals of good corporate governance and believe there is a need for change at Disney, do not have to accept the false dichotomy of Mr. Peltz or the status quo Board,” Blackwells wrote. “The Board does not need nominees driven by personal grievances or animus towards management, as we believe Trian Partners’ (“Trian”) nominees Nelson Peltz and Jay Rasulo are.”
With less than two weeks before The Walt Disney Company annual meeting, Trian, Disney, and Blackwells are making their final pitch to investors. With a hotly contested battle coming to an end, we have certainly not heard the last from the three sides.
Thanks for visiting MickeyBlog.com! Want to go to Disney? For a FREE quote on your next Disney vacation, please fill out the form below and one of the agents from MickeyTravels, a Diamond level Authorized Disney Vacation Planner, will be in touch soon! Also, thanks for reading!
