Marvel Chairman Ike Perlmutter Advocated for Nelson Peltz to Join Disney’s Board

In a proxy statement rebutting the efforts of Trian and Nelson Peltz to gain representation on Disney’s Board of Directors, The Walt Disney Company’s timeline reveals that Marvel’s Ike Perlmutter was a major advocate for Peltz, contacting multiple executives about bringing him onto the Board.

What’s Happening:

  • This morning, The Walt Disney Company released its long-awaited proxy statement, which addressed the efforts of Trian’s Nelson Peltz to join the Disney board.
  • Among the materials Disney included is a timeline of events, which notes that Marvel Chairman Ike Perlmutter advocated for Peltz to join the Board on multiple occasions.
  • On July 15th, 2022, Perlmutter held a call with board director Safra Catz as well as a separate call with CFO Christine McCarthy and then CEO Bob Chapek.
  • Another call with Perlmutter and Catz, this time joined by Peltz, was held the next day. Perlmutter also spoke with Disney’s general counsel Horacio Gutierrez that day.
  • Then, on November 10th, 2022, Perlmutter contracted Chapek, Catz, Gutierrez, and McCarthy to advocate for Peltz. On the 12th, Perlmutter and Peltz met separately with Chapek in Palm Beach.
  • Elsewhere in the Proxy, Disney states that Peltz “does not understand Disney’s business and lacks the skill and experience to assist the Board in delivering shareholder value in a rapidly shifting media ecosystem.”
  • The company argues that Peltz has offered no real plan or solutions for the company.
  • Disney’s statements comes after Peltz released his proxy statement last week, including launching the site