Jeffrey Sonnenfeld Calls Disney's Bob Iger A Magic-Wielding 'Wizard' Amid Ongoing Proxy Battle

The ongoing proxy battle at Walt Disney Co (NYSE:DIS) has seen the company’s CEO, Robert Iger, being described as a “wizard that opens up the door of the Magic Kingdom with genuine magic” by a prominent business analyst.

What Happened: Jeffrey Sonnenfeld, a well-known business analyst, recently appeared on CNBC’s Last Call and lauded Iger’s leadership amid the proxy battle.

This statement comes amid a proxy fight that Disney is currently embroiled in. Activist investor Nelson Peltz has been vocal about his dissatisfaction with Disney’s management. Despite this, Sonnenfeld highly praises Iger, describing Peltz as a “failing financier who is basically practicing parlor illusion tricks.”

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Why It Matters: The ongoing proxy battle at Disney has been a subject of much discussion. Peltz has been critical of Disney’s management, particularly regarding the company’s future prospects. However, other industry experts have supported Iger and the current management team.

Earlier this month, Ross Gerber, CEO and President of Gerber Kawasaki, lauded Iger as one of America’s best CEOs, citing Disney’s recent successes. However, some industry veterans, such as Tom Rogers, have criticized the Disney board for being too deferential towards Iger.

On the other hand, Morgan Stanley executive chair and newest Disney board member James Gorman believes the turnaround at Disney is well underway, as evidenced by the stock price.

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