What Happened: Squire said that Nelson Peltz, the nominee from Trian and Blackwells, was not targeting Iger’s leadership but holding the company's board accountable.

“This was never about Bob Iger not being a successful CEO, not being a good visionary. Nelson Peltz was not opposing Bob Iger,” Squire said, adding, “He might have withheld his votes against him, but he did not recommend that other shareholders withhold their votes against them.”

Squire then went on to say that the fight was all “about long-term. It’s about succession. It’s about holding the board accountable. It’s not about this quarter or last quarter.”

See Also: Disney’s Largest Shareholder Vanguard Sides With Management In Proxy Fight Against Nelson Peltz

However, Jeffrey Sonnenfeld, a management expert and professor at Yale School of Management, disagreed with Squire’s assessment. “Right now, on this set, you can’t name a stronger board in corporate America,” Sonnenfeld said.

This development came after Peltz nominated himself and former Walt Disney Co. CFO Jay Rasulo to Disney's board as part of his proxy fight with the entertainment giant. His nomination came after Disney dismissed the board nominees of activist shareholders.

Previously, Peltz called out Iger and the Disney board for underperforming. “This board, from Bob [Iger] to every independent director, has underperformed the S&P on every measure: one year, three years, five years, 10 years,” he said in January.

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Read Next: Bob Iger Vs. Nelson Peltz: A Former Marvel Boss Joins War Over Disney Board

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