As we get closer to Disney’s Annual meeting of their shareholders and the controversial proxy vote with Nelson Peltz and his Trian group attempting to get a seat on the Disney board, Disney has shared a new video campaigning against Peltz’s organization, urging members not to vote for his nominations.
What’s Happening:
- In the latest chapter of the ongoing saga with activist groups trying to get seats on the board of the Walt Disney Company, Disney has now released a new campaign-style ad targeting Nelson Peltz and the Trian group, urging Disney shareholders not to vote for their nominees in the upcoming proxy vote.
- In the video, Disney shares that Peltz has a track record of tanking the share value of any company he had previously “infiltrated,” while emphasizing his lack of experience working in a media-based company, adding that his quest to get a seat on the board is founded on his own vanity. The video also points out that Peltz has sold many of his shares in the company while he is trying to get a seat on the board.
- The video also calls out Ike Perlmutter, who has a noteworthy and high-profile past with the Walt Disney Company, which also includes his departure from the company nearly a year ago, being laid off as part of a large cost-cutting move promised when CEO Bob Iger returned to Disney in late 2022.
- Also included in the video are comments targeted at former Disney employee Jay Rasulo, citing his desire to be on the board after he was overlooked for a promotion at the Walt Disney Company over a decade ago.
- Recently, the Walt Disney Company Board of Directors disclosed its recommended slate of 12 nominees for election at the 2024 Annual Meeting of Shareholders in preliminary proxy materials filed today with the Securities and Exchange Commission, and did not endorse any of the nominations from the Trian Group.
- This is only the latest in the ongoing saga between Disney and the Trian Group, you can see the full timeline of events here.
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