The Walt Disney Company is facing a hostile takeover threat from within as its largest shareholders have now moved to demand they get two seats on the Disney Board of Directors. Nelzon Peltz and his Trian group, with the backing of former Marvel CEO Ike Perlmutter, are hoping to fundamentally change Disney culture from within,
The current CEO, Bob Iger, represents heir main opposition to that change. Disney responded to the threat by claiming it had a “diverse” board, as if being in a protected class (according to Disney’s anti-American, anti-human woketarian ideology) should protect you from the gross incompetence demonstrated by this board and CEO Bob Iger.
Excerpt:
Disney has formally responded to activist shareholder Trian Fund Management’s unsolicited nominations of Trian chief Nelson Peltz and former Disney CFO James Rasulo to the media giant’s board of directors….
Here is Disney’s full statement:
The Walt Disney Company (NYSE: DIS) confirmed today that Trian Fund Management, L.P., alongside certain affiliates, including Trian’s previously disclosed partnership with Isaac Perlmutter pursuant to which it obtained beneficial ownership of Mr. Perlmutter’s Disney shares (collectively, “Trian”), has provided notice of its intent to nominate two individuals for election to the Company’s Board of Directors at the 2024 Annual Meeting of Shareholders.
Disney has an experienced, diverse, and highly qualified Board that is focused on the long-term performance of the Company, strategic growth initiatives including the ongoing transformation of its businesses, the succession planning process, and increasing shareholder value.
The Governance and Nominating Committee, which evaluates director nominations, will review the proposed Trian nominees and provide a recommendation to the Board as part of its governance process.
The Company expects to file preliminary materials with respect to the 2024 Annual Meeting of Shareholders with the Securities and Exchange Commission (“SEC”), which will include the Board’s recommended slate of director nominees. Disney shareholders are not required to take any action at this time.