Walt Disney has been out of market favour for several years now, with its share price struggling because of the pandemic’s impact on its theme parks, falling profits, rising costs and boardroom drama.
This week Bob Iger, the chief executive, fought off a campaign by the activist investor Nelson Peltz for places on the board, thanks in part to backing from the JP Morgan chief executive Jamie Dimon, the Star Wars creator George Lucas and the grandchildren of Disney’s founders.
The battle has been at the centre of Disney coverage, as shareholders have bickered over the future strategy of the company. Yet since Peltz launched his campaign, the stock has risen by roughly 50 per cent. The billionaire investor naturally takes credit for this
