JPMorgan Chase CEO Jamie Dimon has backed Disney CEO Bob Iger in his ongoing proxy battle against Nelson Peltz and Trian Group, according to CNBC.
- Dimon issued the following statement on Iger:
- “Bob is a first-class executive and outstanding leader who I’ve known for decades. He knows the media and entertainment business cold and has the successful track record to prove it. It’s a complicated industry filled with creative talent, requiring the unique expertise and engagement skills that Bob possesses. Putting people on a Board unnecessarily can harm a company. I don’t know why shareholders would take that risk, especially given the significant progress the company has made since Bob came back.”
- At Disney’s Annual Meeting of shareholders, which will be held on April 3, Peltz and Trian will seek to take over the seats of Disney board members Michael B.G. Froman and Maria Elena Lagomasino.
- The grandchildren of Walt and Roy Disney have shared letters expressing their support of Disney CEO Bob Iger and the company’s ongoing proxy battle against Trian.
- Peltz and Trian Group recently published a 130-page whitepaper detailing their plans to “Restore the Magic.”
- Disney has since responded, sharing a new video campaigning against Peltz’s organization, urging members not to vote for his nominations.