From Breakingviews - At Walt Disney, the G in ESG stands for goofy
Chairman Mark Parker to run its board, too. He is also being tasked with finding yet another successor for Chief Executive Bob Iger. And he’ll be squaring off with pushy investor Nelson Peltz. The silly drama never ends.ousted Bob Chapek shortly after giving him a new three-year deal to reign over the Magic Kingdom and brought Iger out of retirement. Parker, who has been a director at Disney since 2016, was around for all of it.
executive Carolyn Everson to the board, Disney now will have to tangle with Peltz’s Trian. After unsuccessfully haggling with Iger, he is starting a proxy fight to get himself on the board. Trian cites the poor succession planning, bad judgement on the deal to buy parts of Fox and its struggle with profitability at its streaming services. Disney preempted Peltz’s announcement and urged shareholders not to support him.
, chair two S&P 500 companies, according to Equilar. Unless Parker plans to step down at Nike – and the $198 billion shoemaker gave no indication of that happening on Wednesday – shareholders of both companies may get short-changed. At Disney, they’re getting all too used to it.Walt Disney said on Jan. 11 that the board elected Mark Parker to be chairman, effective following the annual meeting of shareholders.
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