Nelson Peltz sells Disney stake

Bob Iger and Nelson Peltz.


Activist investor Nelson Peltz has sold his entire stake in Disney, according to a person familiar with the matter.

In early April, Trian’s Peltz lost a proxy battle at Disney as shareholders reelected the company’s full slate of board nominees. Peltz had been seeking to elect himself and former Disney Chief Financial Officer Jay Rasulo to the company’s board.

Peltz had long taken issue with Disney governance, taking particular aim at the company’s streaming strategy and a failed succession plan for CEO Bob Iger.

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