Peltz Renews Attack on Disney After Board Bid Rejection (1)

Nelson Peltz said Walt Disney Co. is unable to heal “self-inflicted wounds” under current leadership and should be aiming for “Netflix-like margins,” days after the entertainment giant knocked back the activist’s bid for a seat on its board.

In a proxy statement on Thursday, Peltz’s Trian Fund Management LP, which holds about $3 billion in Disney stock, reiterated calls for an overhaul of governance and strategy at the California-based company.

Trian last year nominated Peltz and Jay Rasulo, Disney’s CFO from 2010 to 2015, for positions on the media group’s board as part of its efforts to improve performance. ...