Former Marvel CEO, Billionaire Partner To Take Over Disney

in Disney, Marvel

Mickey Mouse looking shocked

Credit: Disney

Controversial former Marvel Entertainment CEO Ike Perlmutter is throwing his weight (and his money) behind a billionaire’s campaign to seize power at the Walt Disney Company.

Former Marvel CEO Ike Perlmutter against company logo
Credit: Marvel/Inside the Magic

Recently, billionaire activist investor Nelson Peltz and his Trian Fund Management began making moves to take control of the Disney board of directors after an attempt earlier this year to gain seats failed in a proxy battle. This time around, however, Peltz took advantage of Disney’s dwindling stock price to increase his shares to approximately $2.5 billion.

This makes him one of the House of Mouse’s largest shareholders, giving him the ability to significantly move the company away from what he has described as excessive spending and unsound financial decisions by CEO Bob Iger.

Bob Iger with Disney logo
Credit: Inside the Magic

Related: Billionaire Wants To Buy Disney, Says Bob Iger “Is Not Ready”

Now, Ike Perlmutter has announced that he has entrusted his enormous amount of Disney stock to Trian and Nelson Peltz as it attempts to seize multiple seats on the board. According to the Wall Street Journal, Perlmutter will allow Trian sole power over his voting rights.

Ike Perlmutter served as Marvel Entertainment CEO after Disney purchased the company, which also happened to net him nearly $600 million in stock in the company. Reportedly, Perlmutter has purchased even more shares since then and claims to have not sold any since he was removed from power at Marvel, making him one of the largest independent shareholders in the company.

Ike Perlmutter was once an integral member of Marvel Studios, allegedly frequently clashing with Kevin Feige over the creative direction of the Marvel Cinematic Universe. In 2015, he ceased direct involvement with the MCU in what has been described as an ousting by Bob Iger. During his tenure at Marvel, Perlmutter was accused of inflammatory racial comments, as well as insisting against female-led projects, making him one of the most controversial figures in the company’s history.

scarlett johansson as natasha romanoff (left) and florence pugh as yelena belova (right) black widow on bike
Credit: Marvel Studios

Earlier this year, Perlmutter stepped down from Marvel entirely in what Disney called a “lay-off.” However, the former executive has bluntly described himself as “fired,” telling the Wall Street Journal, “I have no doubt that my termination was based on fundamental differences in business between my thinking and Disney leadership, because I care about return on investment.”

Related: Disney Sends Warning Message to Billionaire Elon Musk

Now, Perlmutter has said, “While I was a Disney employee, I was not comfortable publicly stating my views on the company and its performance… As someone with a large economic interest in Disney’s success, I can no longer watch the business underachieve its great potential.”

Florida Governor Ron DeSantis with the Magic Kingdom Disney World Park in the background.
Credit: Inside The Magic

Perlmutter has previously allied himself with Florida Governor Ron DeSantis in his battle against Disney, as well as former President Donald Trump. While it is not entirely certain what direction the former executive might push the company in with the help of Nelson Peltz, it’s clear he’s not happy with Disney as it has been.

Is this a dangerous move for the company? Will Bob Iger be the next executive to get forced out? Tell us your predictions in the comments below!

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