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Peltz, whose fight to join Disney as a director has become one
of the year's most bitter and closely watched board battles, in
an interview with the Financial Times said Disney's films have
become too focused on delivering a message, and not enough on
quality storytelling. He specifically took issue with "The
Marvels" and "Black Panther."
“Why do I have to have a Marvel that’s all women? Not that I
have anything against women, but why do I have to do that?"
Peltz said in the interview, published on Friday. "Why can’t I
have Marvels that are both? Why do I need an all-Black cast?”
Asked about Peltz's remarks, a Disney spokesperson responded:
"This is exactly why Nelson Peltz shouldn't be anywhere near a
creatively driven company."
The fight by Peltz and his Trian Fund is pitting a prominent
activist investor, who says he works well with target companies,
against Disney's Bob Iger, a talented media industry CEO who
returned to the company's top job in November 2022 with a
mission to reinvigorate Disney.
Iger in his autobiography, "The Ride of a Lifetime," said he had
pushed to diversify the Marvel films, which initially had been
built around white male characters.
"Black Panther" is the sixth highest-grossing domestic release
of all time, according to the site Box Office Mojo, and was the
first Marvel film to be nominated for Best Picture. "The
Marvels," released last year, brought in a modest $206 million,
worldwide.
Peltz in the Financial Times interview also said he questioned
the record of Marvel Studios chief Kevin Feige.
Iger himself has said that Marvel has "made too many" film
sequels, which "diluted" the quality. Still, Marvel Studios has
released 33 films that have grossed collectively nearly $30
billion globally.
Peltz's Trian Fund Management is vying for two board seats, one
for founding partner Peltz and the other for former Disney
financial chief Jay Rasulo. Another activist firm, Blackwells
Capital, is pushing for three Disney board seats.
Disney's annual meeting, when voting will end, is scheduled for
April 3.
(Reporting by Dawn Chmielewski in Los Angeles; Editing by Leslie
Adler)
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