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Disney sends letter to shareholders, does not endorse Trian’s Peltz for board
The Fly

Disney sends letter to shareholders, does not endorse Trian’s Peltz for board

The Walt Disney Company board of directors responded to materials issued by the Trian Group, stating in a letter to shareholders: "The Disney Board of Directors is focused on delivering long-term sustainable value and continually works to ensure it is comprised of the right mix of experience, skills and perspectives to guide Disney, particularly as it navigates this dynamic period. The Disney Board of Directors does not endorse Nelson Peltz (or his son Matthew, who is running as an alternate Mr. Peltz may swap in) as a nominee, and believes the election of either Mr. Peltz or his son would threaten the strategic management of Disney during a period of important change in the media landscape… The Company expects to mail its proxy materials, including its WHITE proxy card, to all shareholders in the near future. The Disney Board urges shareholders to take no action at the moment and to simply discard any materials or blue proxy card they may receive from Trian Group. Shareholders should instead give themselves the benefit of voting on a fully informed basis, taking the Board and management team’s important update on its strategy to create value into consideration." Reference Link

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