There may be changes among Disney leaders. A new activist investor wants the Disney board to be restructured. The Wall Street Journal was informed by the new, outspoken investor that Disney's board lacked critical expertise.
Dan Loeb of Third Point LLC is criticising the Disney board of directors. Loeb wrote to CEO Bob Chapek following his business' substantial investment in Disney.
The letter discussed Third Point's complaints with the Disney board of directors and what Disney's top management should do.
In the letter, Disney's board was criticised for being out of touch with the economics and technology of the day. According to Loeb, the board has no experience with digital advertising and monetizing user data.
Disney disputes Loeb's allegations. Disney's response denounced Loeb's purported remarks. The branded, consumer-facing, and technology industries are areas in which our independent and experienced Board has a wealth of understanding.
Disney is correct to refute Loeb's assertions. A skilled expert board serves it. Bob Iger was recently replaced as chairwoman by Susan Arnold. Arnold previously worked for Procter & Gamble.