Does Disney Need a CTO?
Lately, Disney has been in an ongoing high-profile feud with activist investor Nelson Peltz of Trian Partners, and now the entertainment giant is facing calls from another activist investor to shake up its C-suite. This time, though, the focus isn’t on CEO Bob Iger, but rather Disney’s lack of a singular chief technology officer (CTO).
Hedge fund Blackwells Capital, which owns about $15 million worth of Disney stock (a drop in the bucket compared to Trian’s $3 billion), is pressing Disney to create a CTO position that oversees all technology and innovation at the company, arguing that without someone in that role, the company will never be valued as high as a technology firm.