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Elon Musk connected Wednesday advocated for Nelson Peltz successful nan activistic investor’s proxy conflict pinch Disney, saying he "should definitely" get a spot connected nan intermezo giant’s board.
"He would thief betterment nan company, amended nan value of merchandise and mostly service successful nan champion interests of shareholders, arsenic he has done astatine galore different companies," Musk said connected X. "This would importantly amended Disney’s stock price."
"His way grounds is excellent," Musk said successful a consequent post.
The intermezo giant's stock price hovered astir $122 connected Wednesday morning, up much than 34% from nan commencement of nan twelvemonth and complete 22% from a twelvemonth ago.
GEORGE LUCAS SAYS 'NO ONE KNOWS DISNEY BETTER' AS HE BACKS BOB IGER IN PROXY FIGHT WITH PELTZ
| DIS | THE WALT DISNEY CO. | 118.98 | -3.85 | -3.14% |
Musk added that he would "definitely" acquisition Disney shares if Peltz won a Disney committee seat.
Trian Group put guardant Peltz and erstwhile Disney CFO Jay Rasulo arsenic committee nominees precocious past year, kicking disconnected a heated proxy conflict and arguing they could thief "restore nan magic" astatine nan intermezo giant.
Nelson Peltz, founding partner of Trian Fund Management LP, speaks astatine nan WSJD Live convention successful Laguna Beach, California, Oct. 25, 2016. (Mike Blake / Reuters Photos)
Trian has claimed Disney "has mislaid its measurement successful nan past decade, making strategical and operational missteps that person resulted successful deteriorating financial capacity and mediocre absolute and comparative banal returns, costing shareholders billions."
It has accused nan committee of "questionable strategical and superior allocation decisions, mediocre executive compensation alignment and suboptimal succession planning." It has besides flagged things for illustration box agency performance and linear TV.
DISNEY HAS A PLAN FOR WINNING OVER YOUNGER GENERATIONS: VIDEO GAMES
Disney, for its part, has pushed backmost connected Trian and Peltz’s claims.
"We person aggressively executed our cardinal strategical priorities to make Disney’s business much businesslike and effective, reinvigorated our imaginative engines, and sharpened our attraction connected our top marque and franchise assets," nan institution said connected a website it created for nan proxy fight.
Disney has besides based on its committee nominees are "best qualified" for overseeing nan intermezo giant.
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Disney’s committee nominees see Mary Barra, Safra Catz, Amy Chang, Jeremy Carroch, Carolyn Everson, Michael Froman, James Gorman, Maria Lagomasino, Calvin McDonald, Mark Park, Derica Rice and CEO Bob Iger.
Bob Iger attends nan Los Angeles typical screening of Searchlight Pictures' "Flamin' Hot" connected June 9, 2023. (Axelle/Bauer-Griffin/FilmMagic / Getty Images)
Legendary filmmaker George Lucas and others, including Disney family members and JPMorgan Chase CEO Jamie Dimon, person stood by Disney and Iger successful caller weeks.
The results of nan ballot are expected Wednesday day during nan intermezo giant's yearly meeting.
The institution has besides been engaged successful a proxy conflict pinch finance patient Blackwells Capital.
