PELTZ WINS! Disney CEO Bob Iger CRACKS And BACKS DOWN! Does Everything He Was Told to Do!
“Now Disney plans to do everything we wanted them to do,” Peltz told CNBC’s Jim Cramer. Iger has been desperate to keep Nelson Peltz away from the Disney board of directors and appears to have completely capitulated on every demand Peltz made to Disney for change to improve their business. No word yet on Disney reversing it's decline across all their franchises, brands, and disrespect for fans.
PLAYLIST 114 VIDEOS: WARNER BROTHERS DISCOVERY & DAVID ZASLAV
https://www.youtube.com/playlist?list=PLUPkiRW84R1gxDL-u2P1Ac4bE5bONlHix
SUBSCRIBE TO ADAM POST SPEAKS:
https://www.youtube.com/c/AdamPostSpeaks
Follow ADAM POST on Twitter:
https://twitter.com/comicswelove
ADAM POST email:
adampostmediagroup@gmail.com
Disney Plans to Reinstate Its Dividend and Cut 7,000 Jobs. Nelson Peltz Declares Victory.
https://www.barrons.com/amp/articles/walt-disney-earnings-stock-price-job-cuts-dividend-51675811282
Nelson Peltz declared his proxy fight with Disney
was over Thursday after the entertainment giant unveiled a vast restructuring plan, cost cuts and 7,000 layoffs.
“Now Disney plans to do everything we wanted them to do,” Peltz told Jim Cramer on CNBC’s “Squawk on the Street” on Thursday. “We wish the very best to Bob [Iger], this management team and the board. We will be watching. We will be rooting.”
“The proxy fight is over,” said Peltz, who heads Trian Fund Management. He had been seeking a board seat.
Disney said it appreciated Peltz’s decision.
“We are pleased that our Board and management can remain focused without the distraction of a proxy contest, and we have tremendous faith in Bob Iger’s leadership and the transformative vision for Disney’s future he set forth yesterday,” the company said in a statement Thursday.
In January, Trian launched a proxy fight with Disney, pushing for Peltz to gain a seat on the board. The activist firm said at the time it owned about 9.4 million shares valued at roughly $900 million, which it first accumulated a few months prior.
Peltz had criticized Disney’s $71 billion acquisition of Fox in 2019 and failed succession planning. He had also called out “weak corporate governance” over the years that has eroded shareholder value.
The activist investor raised the white flag on Thursday after Disney announced a sweeping reorganization this week. The company said that it would be looking to slash $5.5 billion in costs, and will cut 7,000 jobs.
Disney is also restructuring its business into three divisions, and will focus on bringing its streaming business to profitability by 2024. In addition, Iger said he aimed to ask the board to approve the reinstatement of its dividend--which had been suspended since early 2020 due to the pandemic--by the end of the calendar year.
The changes, which were part of Iger’s first major actions since he returned to the helm of Disney in November, addressed many of Peltz’s concerns.
-
59:45
The Dan Bongino Show
3 hours agoA Big Piece Of The Secret Service Puzzle Revealed (Ep. 2318) - 08/28/2024
412K1.28K -
2:32:31
The Kirk Minihane Show
5 hours agoKMS LIVE | August 28, 2024
15.5K1 -
31:53
Tudor Dixon
2 hours agoThe Devastating Impact of Illegal Alien Crime | The Tudor Dixon Podcast
5.63K1 -
54:36
Steven Crowder
4 hours ago🔴 Dem Panic: Why Kamala picked CNN & Trump Indicted Again
191K429 -
LIVE
Major League Fishing
5 days agoLIVE! - General Tire Team Series: Challenge Cup - Day 4
774 watching -
2:32:00
XrayGirl
4 hours agoStar Wars Outlaws with Woke-Ray Girl
24.4K4 -
LIVE
LFA TV
14 hours agoDEMORATS ARE SCURRYING! | LIVE FROM AMERICA 8/28/24 11am
5,349 watching -
1:15:53
Caleb Hammer
20 hours agoThis Walking STD Pisses Me Off | Financial Audit
11.7K -
8:20
MYLUNCHBREAK CHANNEL PAGE
19 hours agoOld World Photos?
15.6K10 -
18:49
Dave Portnoy
3 hours agoDavey Day Trader Presented by Kraken - August 28, 2024
29.2K4