Nelson Peltz (Unilever PR pic)
Billionaire Nelson Peltz has seen his shares in the Walt Disney Company increase in value by $500 million. Yet, for some reason, he is still unhappy with the company’s management. Meanwhile, the activist investor and father of movie star Nicola Pletz and father-in-law of Brooklyn Beckham may have angered the people at the Wendy’s fast food chain for spending $600,000 of its money on his own protection.
Nelson Peltz is Wendy’s chairman and its largest shareholder, but he stopped short of making a full takeover of the hamburger restaurant a little over a year ago. Now Wendy’s is alleging that he billed the company $596,467 for his “independent professional security consulting firm.”
This was included in a 116-page proxy statement Wendy’s filed with the SEC.
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Meanwhile, Nelson Peltz is still trying to convince Walt Disney Company shareholders that he can do a better job of running the firm; even though, his hedge fund Trian Partners raked in such a windfall just recently. The $500 million boost in the value of Trian’s shares came since the start of February alone.
“Fundamentally and crudely, we want the stock to go up,” Nelson Peltz said of his reasons for still seeking to oust the Disney Board at a meeting to be held on April 3.
As for Disney, it does not want Nelson Peltz to succeed with his ongoing efforts to take over the company’s board telling investors, “Disney’s Board of Directors urges shareholders to protect their investment and the future of the Company by voting the WHITE [Disney’s] proxy card for only Disney’s 12 nominees and not the Trian Group or Blackwells nominees at the 2024 annual meeting.”
“The Disney Board of Directors does not endorse the Trian Group nominees, Nelson Peltz and Jay Rasulo, or the Blackwells nominees, Craig Hatkoff, Jessica Schell and Leah Solivan, and believes that they do not possess the appropriate range of talent, skill, perspective and/or expertise to effectively support the Board’s ongoing efforts to drive profitable growth and shareholder value creation in the face of continuing, industry-wide challenges,” added Disney.
Nelson Peltz is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management, an alternative investment management fund based in New York. He is the non-executive chairman of Wendy’s Company, Sysco, and The Madison Square Garden Company. He is a former director of H.J. Heinz Company, Mondelēz International, and Ingersoll Rand and a former CEO of Triangle Industries.
Peltz is known for being an activist investor, which means that he buys stakes in companies and then pushes for changes to improve their performance. He has a reputation for being tough and demanding, but he has also been successful in helping companies to improve their profitability.
