CNBC’s own Jim Cramer, one of the hosts of their “Investing Club” has just said he plans on voting for Trian Partners’ Nelson Peltz and Jay Rasulo for the Walt Disney Company Board. He publicly announced this plan during the second annual “Club” meeting yesterday. 

Cramer says he is voting this way because he believes that Petlz and Rasulo will hold the Disney board and management “accountable.” Hoping this will force changes that could fix the underperforming stock. 

He also takes issue with the fact that many of the current Disney board have very little to no Walt Disney Company shares themselves. Like Peltz, Cramer argues that lack of shares means they don’t have a financial stake in their decisions, which hinders them from acting quickly and in the best interest of the shareholders. 

It seems that Cramer is also friends with Ike Perlmutter, who owns much of the stock Trian Partners is wielding. According to Jim Cramer, Perlmutter wants to see “stock prices higher, costs down, and bad movies to stop.”

His decision seemingly comes down to the fact that he has seen Peltz do well on other boards, and he says he has talked to CEOs of companies that Petlz was a board member of. He claims that those CEOs have told him that Peltz did a great job asking necessary questions that kept the company from making some bad decisions. 

In Disney’s case, Cramer feels that someone from outside Disney’s management circle would be best suited to look at the situation more objectively and put them on a path forward to be more successful and competitive against their stiffest competition, Netflix.

While Iger’s cost-cutting measures have made gains, they aren’t enough. That’s why he said he’s voting the blue card for Trian Partners for Nelson Peltz and Jay Rasulo to be added to the board. 

This could be a big deal. 

The Annual Meeting will be held on April 3, 2024. We will know then if more people side with Petlz or Bob Iger.

What do you think? Comment and let us know!

Source – CNBC

The post CNBC’s Jim Cramer Is Voting Blue For Nelson Peltz and Jay Rasulo To Be Added To The Disney Board appeared first on Pirates & Princesses.