It’s a big week for Marvel Studios though, as “ Deadpool and WolverineThe corporate shuffle continues behind the scenes as Ike Perlmutter finally breaks free from the shackles of the company he once served as chairman.
The ousted executive followed his partner Nelson Peltz in selling his stake in The Walt Disney Co., The Wall Street Journal reported. The move comes after activist investor Peltz and his Trian partners lost a proxy battle with Disney. Peltz is considered a conduit for Perlmutter’s agenda to further the conservative and anti-diversity platform that Perlmutter championed while serving as chairman of Marvel Entertainment before being fired last year. After Peltz’s vote, Perlmutter sold his entire position of 25.6 million shares.
The timing is intentional, and the 81-year-old may not be severing ties with Disney forever. According to the Wall Street Journal, Perlmutter said, “He is selling Disney because he has no confidence in Disney’s current management and expects the company’s stock price and financial performance to decline further. If Disney’s stock price falls To $65 to $75 a share, he plans to repurchase most of his old shares. The newspaper also noted that “he sold his shares at an average price of just under $115 between early April and mid-July. “
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