Nelson Peltz’s Trian Fund Management has an enormous stake in Disney, and to keep Peltz appeased, Disney has done a lot this year, including looking into selling ABC and big chunks of its business in India, finding a “strategic partner” for ESPN, and folding Hulu into Disney Plus.

But unfortunately, Disney’s stock price, much like my entire retirement portfolio, has not been doing great this year. So Peltz is still looking to get some seats on the board.