Nelson Peltz’s Trian Fund Sells Entire Stake in Disney After Boardroom Battle 💸

Billionaire Nelson Peltz’s Trian Fund Management has sold its entire stake in Walt Disney following a contentious boardroom battle. Trian, Disney’s fifth-largest shareholder with a 1.77% stake as of March 31, sold its shares at nearly $120 each, netting about $1 billion. Trian and Disney declined to comment. Last month, Disney shareholders supported CEO Bob Iger and other directors despite campaigns by Peltz and Blackwells Capital for board seats. They criticized Disney’s CEO succession planning and strategic direction. Despite Peltz’s efforts, Iger received backing from 94% of voting shareholders, while Peltz garnered 31%. Trian expressed disappointment with the outcome but noted that Disney’s share price had risen since its campaign began.