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Former Marvel Entertainment chairman Ike Perlmutter has sold the entirety of his Disney stock.
Tom Anstey | Planet Attractions | 24 Jul 2024
Former Marvel Entertainment chairman Ike Perlmutter has sold the entirety of his Disney stock.
Selling 25.6 million shares in the months after losing a proxy battle with the entertainment giant, Perlmutter told the Wall Street Journal that he sold his stake because he doesn't have confidence in Disney's current management and expects the share price to fall further.
Perlmutter became a larger holder of Disney after the company purchased Marvel in 2009. According to Perlmutter, Disney fired him as chairman of Marvel Entertainment because he pushed the company too aggressively to cut costs and ran afoul of the creative executives. Disney says his dismissal was part of a cost-cutting plan.
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