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Disney criticizes Peltz remarks about casting of 'Black Panther,' 'The Marvels'
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Disney criticizes Peltz remarks about casting of 'Black Panther,' 'The Marvels'
Mar 22, 2024 5:18 PM

March 22 (Reuters) - Walt Disney Co ( DIS ) on Friday

said that remarks by activist investor Nelson Peltz criticizing

the company for making movies dominated by female and Black

actors is evidence that he shouldn't be on Disney's ( DIS ) board.

Peltz, whose fight to join Disney as a director has become

one of the year's most bitter and closely watched board battles,

in an interview with the Financial Times said Disney's ( DIS ) films

have become too focused on delivering a message, and not enough

on quality storytelling. He specifically took issue with "The

Marvels" and "Black Panther."

"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?"

Peltz said in the interview, published on Friday. "Why can't I

have Marvels that are both? Why do I need an all-Black cast?"

Asked about Peltz's remarks, a Disney spokesperson

responded: "This is exactly why Nelson Peltz shouldn't be

anywhere near a creatively driven company."

The fight by Peltz and his Trian Fund is pitting a prominent

activist investor, who says he works well with target companies,

against Disney's ( DIS ) Bob Iger, a talented media industry CEO who

returned to the company's top job in November 2022 with a

mission to reinvigorate Disney.

Iger in his autobiography, "The Ride of a Lifetime," said he

had pushed to diversify the Marvel films, which initially had

been built around white male characters.

"Black Panther" is the sixth highest-grossing domestic

release of all time, according to the site Box Office Mojo, and

was the first Marvel film to be nominated for Best Picture. "The

Marvels," released last year, brought in a modest $206 million,

worldwide.

Peltz in the Financial Times interview also said he

questioned the record of Marvel Studios chief Kevin Feige.

Iger himself has said that Marvel has "made too many" film

sequels, which "diluted" the quality. Still, Marvel Studios has

released 33 films that have grossed collectively nearly $30

billion globally.

Peltz's Trian Fund Management is vying for two board seats,

one for founding partner Peltz and the other for former Disney

financial chief Jay Rasulo. Another activist firm, Blackwells

Capital, is pushing for three Disney board seats.

Disney's ( DIS ) annual meeting, when voting will end, is scheduled

for April 3.

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