09:30 AM EDT, 03/25/2024 (MT Newswires) -- Disney (DIS) activist investor Blackwells said Monday that investor Nelson Peltz "does not belong" on Disney's ( DIS ) board, as it continued to campaign for its board nominees.

"Recently, Mr. Peltz has made a series of disturbing public statements that Blackwells believes are an affront to Disney's ( DIS ) customers, employees and shareholders, and ultimately should disqualify him from sitting on the Disney Board," Blackwells said in a letter to stockholders ahead of the annual meeting set for April 3.

Separately, Trian Management Fund said it supports Disney Chief Executive Bob Iger as a candidate for the board and as CEO, while reaffirming support for the nomination of Peltz, its founder, as well as former Disney Chief Financial Officer Jay Rasulo to the board.

"This campaign is not about Mr. [Bob] Iger, nor is it a referendum on his leadership. And in all events, Disney is, and must be, more than just one person, especially one whose contract expires in less than two short years," Trian said.

Disney did not immediately respond to MT Newswires' request for comment.

Price: 116.9, Change: +1.03, Percent Change: +0.89