Trian's Nelson Peltz shakes up Disney's board with high-profile nominations

Trian Fund Management has nominated its CEO, Nelson Peltz, and former Walt Disney CFO Jay Rasulo to Disney's board as part of a contentious proxy fight. Trian initially sought to nominate three or four board members but decided on two after Rasulo accepted the invitation. Disney defended its current board, stating it is experienced and focused on long-term performance. The company will review the nominations and provide a recommendation. Trian's proxy fight comes as Disney CEO Bob Iger tries to restructure the company after disappointing results and plans to cut costs and make its streaming business profitable.