Ancora: Nelson Peltz would be a ‘fantastic addition to Disney’s board’

Walt Disney Co (NYSE: DIS) is in focus this morning after Ancora urged the entertainment conglomerate to add Nelson Peltz to its board.

Ancora wrote a letter to Disney’s board today

Nelson Peltz – the Founder of Trian Partners or a “qualified designee” would be a “fantastic addition” to the board of directors at Disney, as per a letter the activist investor wrote to the mass media behemoth on Tuesday.

Ancora held over 60,000 shares of the California-based company at the end of September – which are worth about $6.0 million at writing. The news arrives only days after Peltz pushed for two board seats at the Walt Disney Co (read more).

That saw the New York-listed firm reinstate its dividend at 30 cents per share after keeping it suspended for some three years. $DIS is currently down about 20% versus its year-to-date high.

Ancora blames the board for recent struggles

Also today, Ancora held the board responsible for a bunch of challenges that Disney has faced in recent years, including box-office flops and streaming losses.

Last month, the Walt Disney Co reported weaker-than-expected revenue for its fourth financial quarter.

Note that ValueAct – another activist investor that has a stake in the Burbank-headquartered multinational has so far remained silent on the recent Nelson Peltz episode. Wall Street currently has a consensus “overweight” rating on $DIS.