(Reuters) – Walt Disney Co defended its board on Tuesday and said that activist-investor Nelson Peltz “lacked the skills and experience” to help the entertainment giant in its business.
Last week, Peltz formally launched a battle for a board seat at Disney to rescue the company from what he called a “crisis” of overspending on the streaming business, the purchase of 21st Century Fox and failed succession planning.
“Nelson Peltz does not understand Disney’s businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem,” the media company said in a filing.
(Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips)
