JPMorgan Chase CEO Jamie Dimon endorsed Disney CEO Bob Iger in his proxy battle with activist Trian Partners, CNBC's David Faber has learned.
"Bob is a first-class executive and outstanding leader who I've known for decades. He knows the media and entertainment business cold and has the successful track record to prove it. It's a complicated industry filled with creative talent, requiring the unique expertise and engagement skills that Bob possesses. Putting people on a Board unnecessarily can harm a company.
Trian, run by Nelson Peltz, launched an intense proxy fight against Disney, asking investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3.released earlier this month, Peltz outlined demands for a restructuring of leadership and an overhaul of Disney's traditional TV channels, which he thinks have been a shrinking business.
Dimon rarely weighs in on proxy battles, while JPMorgan does have a history of advising Disney on defensive matters.The stock level when the parabolic Nvidia rally may finally cool off and how to trade it
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