Nelson Peltz Launches Verbal Attack on Disney's Wokeness, Asks Questions Customers Have Been Asking

(AP Photo/Richard Drew, File)

With April 3 looming large and Disney's shareholder meeting set to hold a vote, Trian Partners CEO Nelson Peltz is turning up the heat by directly addressing Disney's infection of wokeness. 

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According to the Daily Mail, Peltz began wondering out loud why Disney has to have things like "all-female casts" or "all-black" casts instead of just good creations made by talented people: 

Peltz, a Trump supporter and long-time critic of Disney's move towards 'woke' messaging - is currently waging his second proxy battle for greater control of the entertainment giant.   

'People go to watch a movie or a show to be entertained, they don't go to get a message' Peltz told the Financial Times last week ahead of a crucial April 3 vote that will determine the battle's outcome.  

'Why do I have to have a Marvel that's all women? Not that I have anything against women, but why do I have to do that? Why can't I have Marvels that are both? Why do I need an all-black cast?' Peltz told the publication. 

Disney's board's response was to call Peltz a "bully" and claim Peltz would do real damage to Disney's boardroom with his "perspectives." It also claimed that Peltz has no idea how to run Disney because he doesn't understand the business: 

The letter also argued that Peltz 'brings no additive skills to the board' as he does not understand the business. 

'Peltz, including his silent partner Ike Perlmutter, would harm Disney and jeopardize our strategic transformation,' the letter added.

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While it's still yet to be decided, it appears unlikely that Disney's board is going to convince a lot of people that they know what they're doing better than Peltz will. Trian Partners is a management firm that goes into failing companies and turns them around. Disney is definitely a failing company with its movie and television returns leaving the corporation's bean counters disappointed. 

Over the past couple of years, Disney's stock has fallen 20 percent. Disney+ has lost billions of dollars and continues to operate at a major loss, including a loss of customers, with 1.3 million unsubscribing in February. Its sports channel, ESPN, is not doing well as people cut the cord in droves. According to Yahoo Finance, Disney's Return on Capital Employed is below the industry average and doesn't give stockholders a lot of confidence in upward movement for the near future. 

All the while, Peltz has been sieging the gates of the Magic Kingdom, launching a campaign called "Restore the Magic" that argues Disney's current leadership has lost the plot and that if Disney is to be rescued and rehabilitated, he needs to be put on the board alongside former Disney CFO Jay Rasulo. 

Peltz has been gathering allies in his fight, including Elon Musk and former Marvel CEO Ike Perlmutter, and has even received an endorsement from the Investors Shareholder Services, an influential proxy advisory firm. 

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Not that Iger hasn't been busy with his own endorsements, including one from Star Wars creator George Lucas. 

While this is all well and good for Iger, Petlz's point is a solid one. Disney has gone incredibly political, checking boxes that please the woke left instead of just crafting good stories with the ingenuity and creativity Disney was previously known for. Because of this heavy lean into modern leftism, audiences have walked away in droves, leaving Disney to release box office bombs and forcing rewrites and reshoots on already completed films. 

The fight over the board of Disney is the fight over the soul of Disney with Iger representing a continued degradation and Peltz representing a return to greatness. We'll see how the stockholders see this on April 3. 

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