{"id":539474,"date":"2023-01-15T06:49:05","date_gmt":"2023-01-15T03:49:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger\/"},"modified":"2023-01-15T06:49:05","modified_gmt":"2023-01-15T03:49:05","slug":"boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger\/","title":{"rendered":"#Boardroom activism will cause tremendous grief for Disney&#8217;s Bob Iger"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df3da8c91d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df3da8c91d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger\/#%E2%80%9CBoardroom_activism_will_cause_tremendous_grief_for_Disneys_Bob_Iger%E2%80%9D\" >&#8220;Boardroom activism will cause tremendous grief for Disney&#8217;s Bob Iger&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger\/#DJ_Sollys_last_dance\" >DJ Solly\u2019s last dance?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBoardroom_activism_will_cause_tremendous_grief_for_Disneys_Bob_Iger%E2%80%9D\"><\/span>&#8220;Boardroom activism will cause tremendous grief for Disney&#8217;s Bob Iger&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n            <\/aside>\n<p>Investor <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for woke corporatism has its limits and it usually begins with a declining share price. For further proof, look at what\u2019s going down at Disney.<\/p>\n<p>For years the \u201cHouse of Mouse\u201d was the epicenter of political correctness. Investors largely ignored this circus (including a same-sex kissing scene in children\u2019s programming) because Disney\u2019s stock soared.<\/p>\n<p>No longer. After longtime CEO Bob Iger retired in 2020, successor Bob Chapek proved to be far less adept as a manager and a seller of wokeness. Pandemic theme-park closures didn\u2019t help. Plus he was also crushed by Florida Gov. Ron DeSantis for opposing a law that prevented schools from teaching sex ed to 6-year-olds and lost Disney\u2019s special tax status.<\/p>\n<p>Much of his programming turned out to be a dud and his streaming strategy floundered. Disney\u2019s stock collapsed so much that Chapek was shown the door just about two years into the job.<\/p>\n<p>Iger, 71, made his return to right the ship and got more grief. His stock has largely flatlined because costs are up and streaming remains in limbo, eating into revenues and profits.<\/p>\n<p>A duo of nettlesome activist investors\u00a0are now circling the company like vultures. Dan Loeb\u2019s Third Point and Nelson Peltz\u2019s Trian Partners are unlike passive fund managers in that they use their ownership positions to advocate for changes they believe will lead im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely to\u00a0a higher share price, current \u00admanagement be damned.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Disney_Peltz_24109jpg-20f69.jpg?w=1024\" alt=\"Peltz wants Iger to focus more on Middle America programming.\" class=\"wp-image-25371958\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Disney_Peltz_24109jpg-20f69.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Disney_Peltz_24109jpg-20f69.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Disney_Peltz_24109jpg-20f69.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/Disney_Peltz_24109jpg-20f69.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Nelson Peltz is reportedly looking to encourage more cuts to increase Disney\u2019s stock prices.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Both have big stakes in Disney and, for starters, both want Iger to focus less on programming that appeals to AOC and more on stuff that appeals to Middle America,. They want a coherent streaming strategy, cost cuts and much more.\u00a0<\/p>\n<p>Peltz, in particular, should make Disney and Iger squirm. He preaches \u201cconstructive engagement\u201d with companies he\u2019s targeting, but he\u2019s a longtime critic of Iger and has a significant, $940 million stake in the stock that he will likely add to as he gears up for war. Meanwhile, look what he did at GE: He defenestrated CEO Jeff Immelt just two years after acquiring shares because he believed Immelt couldn\u2019t make his numbers and the stock floundered.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Immelt\u2019s successor went bye-bye about a year later for the same reason. Current management installed by Peltz is in the process of breaking up what was one of the biggest conglomerates in US history.<\/p>\n<p>OK, Peltz often gets his way and isn\u2019t known for his patience when his money is being wasted away as it was at GE. A boardroom battle for the ages is certain now that Peltz demanded a board seat and Iger told him to pound sand. Iger is about to up the ante, I am told, by filing a preliminary proxy to explain why he thinks Peltz is unqualified for the seat.<\/p>\n<p>So far, Peltz says he doesn\u2019t want to pull a GE on Disney and break it up, and Iger can stay as CEO for the next two years. But based on his history, Peltz won\u2019t stand for getting the stiff-arm if Disney\u2019s stock doesn\u2019t start to move higher and fast.<\/p>\n<p>That could mean, in addition to everything else on Peltz\u2019s wish list, the shedding of Disney\u2019s so-called \u201cnoncore assets\u201d to boost profits. Bankers tell me sales of Disney\u2019s sports cable network ESPN, and maybe all of its ABC television network, are on the table and a real possibility to appease Peltz\u2019s desire for a higher stock price.\u00a0<\/p>\n<p>Also most certainly on the table is Iger\u2019s job if he doesn\u2019t make his numbers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DJ_Sollys_last_dance\"><\/span>DJ Solly\u2019s last dance?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/goldman-sachs-ceo-1.jpg?w=1024\" alt=\"Goldman Sachs CEO David Solomon\" class=\"wp-image-25371960\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/goldman-sachs-ceo-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/goldman-sachs-ceo-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/goldman-sachs-ceo-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Top Goldman Sachs partners want David Solomon out as CEO, and could leak information to embarrass the company\u2019s board to pressure his ouster. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Never before has such a well-telegraphed, fairly routine round of layoffs on Wall Street created a bigger stir. But it seems nothing goes down quietly when it has David Solomon\u2019s fingerprints on it.<\/p>\n<p>Solomon, as this column has pointed out, is the beleaguered CEO of Goldman Sachs. He\u2019s a polarizing figure inside the prestigious white-shoe investment bank \u2014 and it goes beyond his internally controversial side hustle as a DJ during the summer Hamptons party scene.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>A contingent of top partners want him out, and they might get their way if they can leak enough bad stuff to embarrass the Goldman board to make a change.<\/p>\n<p>Just as Solomon was poised to announce a hardly draconian, approximately 6% culling of its staff (dubbed \u201cDavid\u2019s Demolition Day\u201d), The Post\u2019s Lydia Moynihan reported that Solomon callously ended Goldman\u2019s free coffee perk.<\/p>\n<p>It will take more than a few leaks to can Solomon, but they are symptoms of a weak management hand. And they can ultimately be deadly at a place like Goldman, with its \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a> of Thrones\u201d management upheavals.<\/p>\n<p>The culture of Goldman is one of constant struggle for power between the traders and investment bankers. When one side controls the balance sheet and the other side is in power, change isn\u2019t far off.\u00a0<\/p>\n<p>Recall how trader Jon Corzine (a future New Jersey senator and governor) was replaced at the top following a banking coup led by lead banker Hank Paulson (a future treasury secretary). Traders Lloyd Blankfein and Gary Cohn nudged out Paulson &amp; Co. when trading profits soared; Solomon, a longtime banker, prodded out Blankfein during a deal boom.<\/p>\n<p>Solomon now finds himself in the middle of the Goldman CEO dance amid higher trading revenues, a slowdown in deals and the near-collapse of his foray into retail banking. For him there\u2019s a couple of ways out: Pray for more deals and fast (difficult). Or finally find a merger partner that I am told he\u2019s been waiting to seize upon when asset values \u00addecline.<\/p>\n<p>The right merger (with Goldman being the official acquirer) will also probably keep Solomon in his job for as long as he wants.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2023\/01\/14\/boardroom-activism-will-cause-tremendous-grief-for-disneys-bob-iger\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Boardroom activism will cause tremendous grief for Disney&#8217;s Bob Iger&#8221; Investor appetite for woke corporatism has its limits and it usually begins with a declining share price. For further proof, look at what\u2019s going down at Disney. For years the \u201cHouse of Mouse\u201d was the epicenter of political correctness. Investors largely ignored this circus (including&#8230;<\/p>\n","protected":false},"author":1,"featured_media":539475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/newspress-collage-25371925-1673753471708.jpg?quality=75&strip=all&1673735518&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[138374,5032,70789,1569,70790,70359,70360],"class_list":["post-539474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-14-23","tag-bob-iger","tag-david-solomon","tag-disney","tag-goldman-sachs","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=539474"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/539475"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=539474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=539474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=539474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}