Disney Squares Off Against Activist Peltz in Proxy Fight (1)

Activist investor Nelson Peltz nominated himself to the board of Walt Disney Co. in what could become a highly public debate over Chief Executive Officer Bob Iger’s leadership.

Peltz’s Trian Partners LP filed a preliminary proxy statement on Thursday morning urging shareholders to support his nomination. Trian — which holds a $900 million stake in Disney — noted that the stock is near an eight-year low, a reflection of what it said was failed succession planning, “over-the-top” compensation practices and a lack of cost discipline.

“Disney’s recent performance reflects the hard truth that it is a company in crisis,” ...