Blackwells Capital Urges Nelson Peltz to End ‘Ego-Driven’ Campaign for Disney Board Seats

Blackwells Capital is calling on activist investor and Trian Fund Management founder Nelson Peltz to end his renewed push for multiple seats on Disney’s board.

The firm, which has been a Disney shareholder since 2018, expressed concern in a statement on Thursday that Trian’s campaign “prioritizes Mr. Peltz’s ego over what is best for all Disney shareholders,” and that its latest effort “may cost Disney shareholders upwards of $50 million and serve only as a value destructive fog for Disney’s leadership and Board.”

Additionally, Blackwells said it does not believe that Trian’s efforts at Disney or other public companies have served the interests of long-term shareholders. Blackwells cited Peltz’s involvement in The Wendy’s Company as a “cautionary tale for Disney shareholders.”