Trian ‘disappointed’ with outcome of Disney proxy contest

The Trian Group, which beneficially owns over $3.5B of common stock in The Walt Disney Company, commented on the preliminary results from Disney’s 2024 Annual Meeting of Shareholders, which indicated that Nelson Peltz and Jay Rasulo were not elected to Disney’s Board of Directors. Trian issued the following statement on today’s results: “While we are disappointed with the outcome of this proxy contest, Trian greatly appreciates all of the support and dialogue we have had with Disney stakeholders. We are proud of the impact we have had in refocusing this Company on value creation and good governance. Since we re-engaged with the Company in late 2023, Disney has announced a host of new operating initiatives and capital improvement plans. The Board has been refreshed with two new directors. Over the last six months, Disney’s stock is up approximately 50% and is the Dow Jones Industrial Average’s best performer year-to-date. We thank Trian’s investors for the confidence they have placed in our efforts. And, we wish the best for all of the Company’s stakeholders, including Disney’s Board and management team. We will be watching the Company’s performance and be focusing on its continued success.”