Nelson Peltz Is Not Ruling Out a Third Proxy Battle
Nelson Peltz may have decisively lost his proxy battle to get a seat on The Walt Disney Company’s board of directors, but that does not mean that the activist investor is going away.
In an interview with CNBC’s Jim Cramer, Peltz said that he would “watch and wait” to see if the company keeps its promises.
Nelson Peltz
“I hope Bob can keep his promises,” the investor said. “I hope they can do all the things they assured us they were going to do. And we’ll only watch and wait. If they do it, they won’t hear from me again.”
Another Proxy Fight Could Be on the Horizon
The vote, Peltz said, sent a clear message that shareholders want to give the board a chance. If Disney does not follow through, however, Peltz says another proxy battle is not out of the question.
Photo: REUTERS/Mike Blake
“The shareholders have voted. They want to give management and the board a chance. So so be it. We will watch like we did last time,” he said.
“We pulled out a year ago February. A lot of promises were made. We hoped that they were going to keep them. They didn’t, we came back. We’ve got a new set of promises, and I hope they keep them and if they if they do, I’ll be a guest on the other show probably talking about a different company. But if they don’t, you’ll see me again.”
(Charley Gallay / Getty Images for Disney)
Right now, Disney’s shares are soaring, and Bob Iger is taking a victory lap. If Disney cannot maintain its recent success, we may be in for a Peltz vs. Disney Round 3.
