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Marvel Chairman Isaac Perlmutter Says Disney Fired Him: Report

Former Marvel Entertainment chairman Isaac “Ike” Perlmatter said Wednesday that he will hold Disney shares after a week. Report of his dismissal from the role.

Reuters reported last Wednesday that Disney fired 80-year-old Perlmutter, Disney’s largest individual shareholder, as part of a cost-cutting campaign.

Permutter, however, told the Wall Street Journal He was fired because he pushed Disney too aggressively to cut costs and clashed with the creative executives that newly-returned CEO Robert Iger wanted to empower.

Isaac Perlmatter told The Wall Street Journal that he was fired for aggressively pushing Disney to cut costs.

Disney did not immediately respond to Reuters’ request for comment.

News of Perlmutter’s dismissal comes as activist shareholder Nelson Peltz An unsuccessful bid for a seat on Disney’s board of directors.

“Trian CEO Nelson Peltz has a long history of improving shareholder returns at many of the largest consumer packaged goods companies. official statement on wednesday.

Mickey Mouse
Disney has addressed concerns about spending too much on streaming.
Getty Images Walt Disney World Resort

As part of the restructuring process, Disney had addressed some of the criticism from Trian Fund Management Chief Executive Peltz that the Mouse House was wasting money on streaming.

“It’s that approach to Disney’s business that has shaped my support for Trian to restore the dividend, fix the bloated company’s cost structure, and ensure a successful CEO succession.” Perlmutter said.

A WSJ report earlier in the day said he owns about 30 million shares of Disney, worth about $3 billion. Marvel Chairman Isaac Perlmutter Says Disney Fired Him: Report

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