Nelson Peltz cashed out his Disney stake after losing his proxy fight

Peltz had criticized Disney and CEO Bob Iger for missteps and self-inflicted wounds, including the Fox acquisition and spending too much in streaming.

In the end, veteran investor Nelson Peltz came away with a big win in his battle with the Walt Disney Co. Peltz's Trian Fund Management sold its Disney shares after Peltz lost his hard-fought campaign to join the Burbank entertainment giant's board of directors and exert influence over the Magic Kingdom.

Another sore point was Disney board members’ decision to hire Bob Chapek as CEO four years ago and extending Chapek's contract less than six months before directors forced him out. Chapek, who was Iger’s handpicked replacement, made several costly blunders, including allowing Disney to become fodder for the culture war campaign of Florida Gov. Ron DeSantis. Disney also racked up billions of dollars in losses on streaming. Peltz unveiled Trian’s proxy fight last fall.

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