Trian Fund Management, L.P. Issues Statement Regarding The Walt Disney Company Board; Disney Informed Trian That The Board Is Turning Down Trian's Recent Request For Board Representation, Including Nelson Peltz
Portfolio Pulse from Benzinga Newsdesk
Trian Fund Management, which owns approximately $3 billion of Disney stock, has been denied board representation by The Walt Disney Company, including their nominee Nelson Peltz. Despite Disney's offer to meet, Trian criticizes the company's performance and plans to appeal directly to shareholders for change, citing a $70 billion loss in shareholder value and underperformance relative to peers and the market.

November 30, 2023 | 3:26 pm
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Disney has declined Trian Fund Management's request for board representation, including Nelson Peltz. Trian criticizes Disney's performance and intends to appeal to shareholders for change.
The rejection of Trian's request for board representation, especially given the ownership of a significant amount of Disney stock, could lead to increased tension between the board and shareholders. Trian's public criticism and intention to appeal directly to shareholders may create uncertainty and negatively impact investor sentiment in the short term, potentially leading to a decrease in stock price.
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