Don Chmielewski
(Reuters) – Walt Disney (NYSE:) Co. said Friday that activist investor Nelson Peltz’s remarks criticizing the company for making films dominated by women and black actors are evidence he should not serve on Disney’s board of directors.
Peltz, whose battle to join Disney as a director has become one of the most bitter and closely watched board battles this year, said in an interview with the Financial Times that Disney films have become too focused on delivering a message and not enough on quality. narration. In particular, he disagrees with “Marvels” and “Black Panther.”
“Why do I want a Marvel that’s all women? Not that I have anything against women, but why should I do this? Why do I need an all-black cast?”
When asked about Peltz’s remarks, a Disney spokesperson responded: “This is why Nelson Peltz should not be anywhere near a creatively driven company.”
The fight between Peltz and his Trian Fund pits the renowned activist investor, who says he works well with targeted companies, against Disney’s Bob Iger, a talented media industry CEO who returned to the company’s top job in November 2022 with a mission to reinvigorate life at Disney. .
Iger said in his autobiography “The Ride of a Lifetime” that he sought to diversify Marvel films, which were initially built around white male characters.
According to Box Office Mojo, Black Panther is the sixth-highest-grossing domestic film of all time and is the first Marvel film to be nominated for Best Picture. “Marvels,” released last year, brought in a modest $206 million worldwide.
Peltz also said in an interview with the Financial Times that he questions the reputation of Marvel Studios head Kevin Feige.
Iger himself said that Marvel “made too many” movie sequels, which “degraded” the quality. However, Marvel Studios has produced 33 films that have grossed approximately $30 billion worldwide.
Peltz’s Trian Fund Management is vying for two board seats, one for Peltz’s founding partner and the other for former Disney CFO Jay Rasulo. Another activist firm, Blackwells Capital, is seeking three seats on Disney’s board.
Disney’s annual meeting, where voting will close, is scheduled for April 3.