Disney’s Board of Directors should be facing the end of its happily ever after.
This Wednesday, the directors of the most recognizable name in media are facing replacements courtesy of activist shareholder Nelson Peltz of Trian Fund Management, who’s looking to unseat multiple board members in favor of himself and former Disney CFO Jay Rasulo. Peltz’s bid for a board seat is hardly a grassroots move—major proxy advisory firms like ISS and Egan-Jones are backing Peltz as a needed shareholder voice on the company’s board. The final vote count, revealed at Disney’s annual meeting on April 3rd, will determine the trajectory of the company for the foreseeable future. But why does it matter? How did Disney mess up so badly?
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