Disney has released the date for the annual shareholder meeting. The event will be held virtually at 10AM PST / 1PM EST. I’m sure it will be watched by everyone as that is the meeting where Nelson Peltz, and the rest of us, will find out if he gets a seat on the Walt Disney Company board.
The battle is coming down to Michael Froman’s seat, which Peltz wants for him or his son. Disney is of course endorsing Froman and asking shareholders to not allow Peltz and Trian Group the seat.
Peltz has challenged Disney and put out some filings to attract more shareholders to “his side.” The campaign against Disney has called out the current board and Bob Iger on choices including the $71+ billion Fox acquisition, the lack of dividends and the declining guest satisfaction with the company.
The challenger Peltz says he is not trying to remove Bob Iger, but instead wants to offer “new perspective to improve performance.” He is also claiming to want to “Restore the Magic.”
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