The Walt Disney Company (Disney) has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (SEC) in preparation for its 2024 Annual Meeting of Shareholders. The proxy statement, filed by Trian Fund Management, L.P. (Trian), includes a solicitation of proxies for the election of Nelson Peltz and James A. Rasulo as directors of Disney. Trian, a Delaware limited partnership, and its affiliates are seeking shareholder support to vote the enclosed BLUE proxy card in favor of their nominees. The proxy statement outlines the background of the event, the involvement of Trian and its affiliates, and the proposed resolutions for the upcoming meeting. The preliminary proxy statement was first furnished to shareholders on January 18, 2024, and the annual...Show More

The Walt Disney Company (Disney) has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (SEC) in preparation for its 2024 Annual Meeting of Shareholders. The proxy statement, filed by Trian Fund Management, L.P. (Trian), includes a solicitation of proxies for the election of Nelson Peltz and James A. Rasulo as directors of Disney. Trian, a Delaware limited partnership, and its affiliates are seeking shareholder support to vote the enclosed BLUE proxy card in favor of their nominees. The proxy statement outlines the background of the event, the involvement of Trian and its affiliates, and the proposed resolutions for the upcoming meeting. The preliminary proxy statement was first furnished to shareholders on January 18, 2024, and the annual meeting will be conducted virtually via live webcast. Shareholders must register to attend the virtual meeting by a specified date. Trian's solicitation is being made independently and not on behalf of Disney's Board of Directors or any other party. The proxy statement also includes proposals for the ratification of PricewaterhouseCoopers LLP as Disney's independent accountants, an advisory vote on executive compensation, and other shareholder proposals. Trian is urging shareholders to vote for their nominees and certain proposals while making no recommendation on others. The proxy statement emphasizes the need for fresh perspectives on Disney's Board to address governance, strategic, financial, and operational challenges, citing Disney's underperformance compared to its peers and potential for improvement.