"Close to two years after losing a proxy fight to longtime Disney boss Bob Iger, billionaire investor Nelson Peltz is still a skeptic.Activist investor and Trian Partners founder Nelson Peltz said at a Florida event on Tuesday that Disney picked Josh D'Amaro as its new CEO because "Iger needs a reason to stay on." By Peltz's telling, D'Amaro's lack of entertainment experience - he has run the parks and experiences"
"D'Amaro's appointment as CEO was approved by Disney's board in a unanimous vote led by former Morgan Stanley CEO James Gorman, who managed his own succession at the bank. D'Amaro "demonstrated a strong vision for the company's future and a deep understanding of what makes Disney unique in an ever-changing marketplace," Gorman said in a statement, and the division he leads was more than 70% of the company's operating income last quarter."
Disney named parks and experiences chief Josh D'Amaro as CEO, succeeding Bob Iger, while Iger will remain a senior advisor through the end of the year. Activist investor Nelson Peltz criticized the choice, saying D'Amaro lacks entertainment experience and suggesting Iger could use that as a reason to stay involved. Disney's board unanimously approved the appointment under chairman James Gorman. Gorman praised D'Amaro's vision and understanding of Disney's strengths, noting the parks division generated over 70% of operating income last quarter. This appointment follows Iger's earlier return after Bob Chapek's tumultuous tenure.
Read at Business Insider
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