Ex Marvel CEO Ike Perlmutter Sells Entire Stake in Walt Disney Company
Former Marvel CEO and chairman, Ike Perlmutter, has offloaded his entire stake in The Walt Disney Company, as reported by Seeking Alpha.
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Perlmutter, who became a major Disney shareholder following the 2009 Marvel acquisition, has offloaded his entire 25.6 million share stake. This move comes on the heels of his failed proxy battle with the company, waged alongside activist investor Nelson Peltz.
In a statement reported by Seeking Alpha, Perlmutter expressed a lack of confidence in Disney’s current leadership. He anticipates a further decline in share price and has indicated his intention to repurchase a significant portion of his previous holding once the stock falls to between $65 and $75 per share.
Peltz, who was granted control over Perlmutter’s shares last October as part of his campaign for a Disney board seat, has also exited his position entirely. Following his unsuccessful proxy battle in April 2024, Peltz sold off his remaining Disney shares.
Disney’s stock price has been under pressure. Shares closed at $91.10 on July 23, marking a 3.24% decline. This downturn comes amid a broader market correction and may also reflect investor concerns about the company’s strategic direction.
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