Activist investor Nelson Peltz called for the removal of a director from Disney's board and criticized the pay of executives like CEO Robert Iger in an open letter
of the Walt Disney Co. ’s board and advocated for the removal of director Michael B.G. Froman, blaming him for backing governance and compensation decisions that Mr. Peltz says have harmed the company.
Mr. Peltz’s Trian Fund Management LP said Thursday in a letter that Disney’s board was responsible for the company’s recent share-price declines, falling income and other examples of “destruction of value,” because it had failed to plan properly for CEO succession and align the incentives of management and the board with those of shareholders.
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