Activist investor Nelson Peltz increases his stake in Disney and seeks multiple seats on the board of directors.

According to the Zhongtong Finance APP, it has been learned that Nelson Peltz, a shareholder activist, and his investment firm Trian have increased their stake in Disney. It is expected that Peltz will seek multiple seats on the board, including one for himself.

Trian is now one of the largest investors in Disney, with a stake worth over $2.5 billion. Their holdings have increased from around 6.4 million shares at the end of the second quarter to over 30 million shares.

Insiders revealed that Trian believes Disney's stock price is severely undervalued and that the company needs a more focused board.

According to Disney's proxy statement, the window for shareholder nominations is from December 5th to January 4th next year.

In February of this year, Peltz ended his pursuit of a seat on Disney's board after CEO Bob Iger announced plans to lay off 7,000 employees. This move was aimed at saving $5.5 billion in costs and making the company's streaming business profitable.