April 3, 2024, is going to be an important day for Disney wherein key stakeholders in the company decide its future.

Disney CEO Bob Iger has a stressful job. It’s not easy being the head of one of the foremost entertainment companies in the world. Considering Disney has its fingers in many pies, managing all of them is no easy task. To add to this, there are constantly hundreds of opinions from various parties about how the man should do his job and lead the company.

Nelson Peltz’s Challenge to Disney Will Come to a Head on April 3

One of the loudest voices when it comes to criticizing Disney leadership, whether it was former Disney CEO Bob Chapek or the current Disney CEO Bob Iger, is billionaire activist investor Nelson Peltz.

Mr. Peltz had made clear in no uncertain terms that he was unhappy with the current direction that the Walt Disney Company had taken.

He has even gone so far as to recommend that two individuals on Disney’s board—Disney directors Michael Froman and Maria Elena Lagomasino—should be replaced by Nelson Peltz himself as well as former Disney chief financial officer Jay Rasulo.

As The Economic Times reported,

Trian wrote to shareholders that according to Disney’s own criteria, Froman and Lagomasino lack skills in succession planning, media and entertainment, and strategic transformation. Peltz and Rasulo, the letter says, have skills in all areas central to Disney’s strategy.

Disney, for its part, has roundly rejected Peltz’s suggestions and has urged shareholders to keep in mind that Disney’s board, in its current state, is the best qualified to provide value to them.

Of course, now that everyone’s cards are on the table, April 3 will prove to be an incredibly interesting day for Disney. April 3 is the day that Disney set to allow shareholders a say in who will guide Disney into a better future.

Will shareholders pick Peltz and Rasulo? Or will they support the company’s choices for its board? Only time will tell.