Disney CEO Bob Iger will offer a long-awaited update to Wall Street this week on the entertainment giant’s turnaround efforts, as the company looks to boost its stock price and fend off a proxy battle from activist investor Nelson Peltz.
The Trian Fund Management founder is looking to secure two seats on the board for himself and former Disney chief financial officer Jay Rasulo at the annual shareholder meeting on April 3.
Disney is now in a “put up or shut up” situation,” Heritage Capital founder Paul Schatz told TheWrap. “Another bad report and Nelson Peltz may get some hedge funds on his side.”
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