Perlmutter has long been known to have frosty relations with Iger and Feige.
I have long expected that my working relationship with Disney would end, Perlmutter said in the statement.
Perlmutter said his desire to see costs cut to improve efficiency was why he supported Peltz.
Walt Disney Co. headquarters in Burbank, CAGetty Images
Trian CEO Nelson Peltz has a long history of improving shareholder returns at many leading consumer businesses.
I believe he could have done the same for Disney as a member of its board.
Dade Hayes and Jill Goldsmith contributed to this report.
