Isaac "Ike" Perlmutter was a major player at Disney. He has sold all his shares in the company. He used to be the chairman of Marvel Entertainment and owned about 25.6 million shares of Disney. These shares were worth nearly $3 billion.
Perlmutter's decision came after a failed attempt to shake up Disney's leadership. He supported Nelson Peltz. Peltz is an activist shareholder who wanted a seat on Disney's board. However Peltz's effort was unsuccessful.
After this defeat Perlmutter lost confidence in Disney's current management. He decided to sell all his shares. Despite this he mentioned he might buy them back if Disney's stock price falls significantly.
This move marks a significant change in Perlmutter's involvement with Disney. It shows his dissatisfaction with the company's direction and leadership.
