'Statement From The Walt Disney Company'
Portfolio Pulse from Benzinga Newsdesk
The Walt Disney Company (NYSE:DIS) responded to Nelson Peltz's statement regarding its Board of Directors. Disney highlighted its restructuring efforts, cost savings of $7.5 billion, and strategic focus on streaming profitability, ESPN's digital platform, film studio economics, and growth in Experiences. Disney expects free cash flow to near pre-COVID levels by fiscal 2024. The company also announced the appointment of new board members and the non-reelection of Francis A. deSouza. Peltz, with Isaac Perlmutter's backing, plans to present his case to shareholders. Disney will recommend its director nominees in an upcoming proxy statement.
November 30, 2023 | 4:26 pm
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POSITIVE IMPACT
Disney defends its strategy and board decisions against Nelson Peltz's criticisms, emphasizing cost savings, strategic initiatives, and board refreshment. The company is focused on long-term shareholder value and expects significant financial recovery by fiscal 2024.
Disney's strong defense against activist investor criticism and the announcement of significant cost savings and strategic initiatives are likely to be viewed positively by investors. The emphasis on long-term value and financial recovery by fiscal 2024, along with board refreshment, may boost investor confidence and potentially lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100