CalPERS supports Nelson Peltz and Jay Rasulo to join Disney’s board, challenging Bob Iger. The pension fund believes Disney will benefit from fresh perspectives.
The California Public Employees Retirement System has voted for Peltz and Rasulo, who are activist investors. CalPERS owns 6.6 million Disney shares and manages over $465 billion in assets.
Peltz, a veteran activist investor, has criticized Disney for its stock performance and streaming service losses. Disney has been facing opposition from Peltz and other activists for new board seats.
The battle for Disney’s board seats continues as CalPERS takes a stand. More updates are expected in this ongoing feud.
(Pictured: Trian Partners’ Nelson Peltz and Jay Rasulo)
