Nelson Peltz founding partner of Trian Fund Management LP. speak at the WSJD Live conference in Laguna Beach, California October 25, 2016. REUTERS/Mike Blake/File Photo
Activist investor Nelson Peltz is seeking two seats on Walt Disney’s (DIS.N) board, CNBC reported on Thursday.
The media company has been facing pressure from Peltz’s Trian Fund Management, which has been planning a new board challenge at Disney less than a year after the entertainment giant laid out plans that addressed the initial criticisms.
Peltz, 81, in October signaled that he planned to nominate several directors to the board when the nomination window opens in a few weeks. Earlier this month, two sources familiar with Peltz’s thinking said he will likely nominate three or four directors.
The development comes a day after Disney announced the appointment of James P. Gorman, chairman and chief executive of Morgan Stanley, and Jeremy Darroch, a veteran media executive and former group chief executive of Sky, as new directors.
Darroch’s appointment is effective Jan. 9 and Gorman’s is effective Feb. 5.
Gorman and Darroch will be included in the company’s slate of director nominees in the proxy statement for Disney’s 2024 annual shareholder meeting. Disney board member Francis A. deSouza has decided not to stand for reelection.
Disney and Trian did not immediately respond to Reuters’ requests for comment.
Reporting by Samrhitha Arunasalam in Bengaluru and Dawn Chmielewski in New York; Editing by Anil D’Silva and Mark Porter
