As the proxy battle between Disney and Nelson Peltz’s Trian Group continues, Disney has issued a presentation refuting the claims of Trian’s recently issue whitepaper.
- Peltz and Trian Group recently published a 130-page whitepaper detailing their plans to “Restore the Magic.”
- Disney has responded by releasing a 21-slide PowerPoint presentation “correcting” Trian’s claims.
- The presentation, which can be seen in its entirety here, accuses Trian’s whitepaper of being “littered with false statements,” like:
- Disney’s stock price performance since 10/06/23 is related to Trian’s presence
- Buying Disney stock over the last 10 years has been a losing proposition
- Disney Board is slow to adapt to industry disruptions
- Disney directors have close personal relationships with Bob Iger; Iger personally selected the Board
- Poor compensation practices have misaligned the interests of management and Disney shareholders
- Peltz and Rasulo are additive to Disney’s Board
- The presentation goes on to expand on each of those points, providing evidence to refute the claims of Trian.
- At Disney’s Annual Meeting of shareholders, which will be held on April 3, Peltz and Trian will seek to take over the seats of Disney board members Michael B.G. Froman and Maria Elena Lagomasino.
- The grandchildren of Walt and Roy Disney have shared letters expressing their support of Disney CEO Bob Iger and the company’s ongoing proxy battle against Trian.
- Earlier today, JPMorgan Chase CEO Jamie Dimon backed Disney CEO Bob Iger in the ongoing proxy battle.