Blackwells Capital nominates three candidates for Disney board

Blackwells Capital, a shareholder of The Walt Disney Company announced that it has nominated three candidates – Jessica Schell, Craig Hatkoff and Leah Solivan – for election to the board of directors of Disney at the Company’s 2024 annual meeting of shareholders. The firm said, “Blackwells’ November 30, 2023 press release catalyzed the idea that shareholders deserve the opportunity to continue supporting Disney’s turnaround and transformation efforts under the leadership of the current Board and CEO, Robert A. Iger, unbound by Trian Fund Management and Nelson Peltz’s reprise of a contrived campaign that is disconnected from the needs of Disney stakeholders. Ten months ago, Mr. Peltz withdrew Trian’s unnecessary proxy fight at Disney. Mr. Peltz would now have shareholders elect him personally, along with a disgruntled former Disney employee. Neither candidate has the skillsets Trian claims the Board lacks. Rather, we believe Mr. Peltz’s latest effort is driven by animus against Mr. Iger, and an ego-driven urge to claim credit for a transformation already underway. Flip-flopping, self-interest and personal quarrels have no place in a Boardroom. Individuals seeking to gain representation on Disney’s Board must have skillsets that the Board needs as well as a demonstrable record of creating value for all stakeholders. Mr. Peltz and his coterie seem to fail that test, time and time again.” A brief description of each of Blackwells’ nominees follows: Schell has extensive experience in the entertainment, technology and retail industries as an executive with Warner Brothers Discovery and NBC Universal. Hatkoff has extensive experience in the real estate industry, having served as a director on the boards of prominent public real estate companies and as head of a real estate M&A at one of the largest investment banks in the United States. Solivan is a venture capitalist and technology expert, leading several successful funds that invests in consumer, SaaS and infrastructure companies.