From CNBC:

In a recent development, JP Morgan Chase CEO Jamie Dimon has endorsed Disney CEO Bob Iger in his proxy battle against activist Trian Partners. Dimon praised Iger as a top executive with deep knowledge and success in the media industry, cautioning against unnecessary board additions that could harm the company’s progress.

Trian Partners, led by Nelson Peltz, has launched a proxy fight against Disney, aiming to join the board and restructure leadership. Peltz’s 133-page white paper calls for an overhaul of Disney’s TV channels and urges the company to achieve “Netflix-like margins” by 2027, citing Netflix as a key competitor to Disney.

Disney CEO Bob Iger has been focused on restructuring the company to improve profitability, particularly with the Disney+ streaming platform. Despite recent positive earnings, activists like Peltz remain unsatisfied and continue to push for changes in leadership and strategy at the media giant.

JP Morgan Chase CEO Jamie Dimon’s rare endorsement of Bob Iger in the proxy battle is notable, as the bank has a history of advising Disney on defense strategies. With both sides gearing up for a showdown, Disney’s future direction and profitability are at stake as shareholders prepare to vote on the board nominations.



Read more: Jamie Dimon endorses Disney CEO Bob Iger in proxy fight with Nelson Peltz’s Trian Partners