April 3rd, 2024 is going to be a huge day for The Walt Disney Company. In fact, the results of the annual shareholder meeting on April 3rd may impact the future of Disney for decades to come.
Disney is in the middle of a proxy battle against two activist groups seeking spots on Disney’s board of directors. We’ve seen Disney attempt to discredit its adversaries via a “Fact vs Fiction” campaign, and the company even shared an animated informational cartoon starring Professor Ludwig von Drake. Now, in a newly-released report, nine grandchildren of Walt and Roy Disney are taking a side in the proxy battle.
Back in January, Disney announced the 12 nominees they were endorsed for the board of directors. The company also shared its official rejection of the activist nominees, Nelson Peltz and James Rasulo.
Since then, we’ve seen several attempts on Disney’s part to sway shareholders to vote against the activist investors. Disney even created a votedisney.com website, which has become the home of Disney’s campaign against Peltz and Rasulo. Most recently, the website was updated with a section to “correct” some “False Claims.”
In a statement to shareholders, Disney explained, “The Board does not endorse the nominations of Nelson Peltz and James Rasulo put forth by Trian Fund Management, L.P., and its affiliates, led by Nelson Peltz and supported by former Disney executive Isaac Perlmutter (collectively, the “Trian Group”). The Board recommends that shareholders do not vote for the Trian Group nominees and that they reject a related proposal from the Trian Group to amend the Company Bylaws.”
Roy P. Disney told The New York Times, “These activists must be defeated,” adding, “They are not interested in preserving the Disney magic, but stripping it to the bone to make a quick profit for themselves.”
Roy Disney’s grandson and his three siblings, Abigail, Susan Disney Lord, and Tim Disney penned a letter to Disney shareholders. In the letter, the siblings call Nelson Peltz and others “wolves in sheep’s clothing,” per The New York Times.
Note that the annual shareholder meeting will take place on April 3rd, 2024. In the meantime, we’re always on the lookout for the latest Disney news, so stay tuned for more.
NEWS: Disney Makes Desperate Attempt To Sway Shareholders Ahead of Annual Meeting
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If the present board was doing such a bang up job, there wouldn’t be
any challengers. How much money has the movies, of the last year, lost?
How much does Disney+ continue to lose? How many long time fans have
decided not to visit the parks anymore? Bang up job!