Disney Says ‘Oblivious’ Peltz Offered No Ideas in Bid for Board

Walt Disney Co. said that activist investor Nelson Peltz didn’t present “a single strategic idea,” despite months of engagement with the company and the board.

Nelson Peltz

Photographer: Calla Kessler/Bloomberg

Peltz’s assessment of the company’s performance seemed “oblivious” to the changes sweeping the media business, Disney said in a regulatory filing on Tuesday. The board rejected Peltz’s proposed candidacy because he lacked experience in the media business and it wanted to give newly appointed chief executive officer Bob Iger more time to deal with changes at the company.

Disney Chair Susan Arnold and General Counsel Horacio Gutierrez called Peltz on Jan. 11 and told ...