DIS - Nelson Peltz reveals performance targets he'll pursue if elected to Disney's board

2024-01-18 12:27:16 ET

Walt Disney Co (NYSE: DIS) is trending up this morning after Nelson Peltz revealed performance targets he’ll pursue at the entertainment conglomerate if he’s elected to its board.

Peltz will push for Netflix-like margins at Disney

Trian Fund Management – an activist investment firm he founded in 2005 formally nominated Peltz and Jay Rasulo (former finance chief of Disney) to Disney’s board on Thursday.

What they promised in a proxy filing today include “finally completing a successful CEO succession” and “aligning management pay with performance”.

Peltz also said this morning that he’d target “Netflix-like margins” of up to 20% at the New York listed firm by 2027.

Wall Street currently has a consensus “overweight” rating on shares of the Walt Disney Co that are down about 20% versus their 52-week high.

Peltz lashes out at the current board of Disney

Disney has so far pushed against Peltz’s attempt to join its board as he lacks media experience. But on CNBC’s “ Squawk Box ”, the activist investor said in retaliation today:

They said I have no media experience. I don’t claim to have any. But I will tell you, I don’t think they have much media experience.

Nelson Peltz – along with Jay Rasulo will also target high-single digit growth in operating income at the company’s theme parks if elected to its board, as per the filing on Thursday.

Earlier in January, ValueAct and Blackwells announced plans of siding with the current management of Disney in its proxy fight with Trian Partners ( find out more ). The media giant is expected to earn $1.0 a share in its current financial quarter versus 99 cents per share a year ago.

The post Nelson Peltz reveals performance targets he’ll pursue if elected to Disney’s board appeared first on Invezz