Trian Expresses Disappointment In The Mudslinging Tone And Content Of Disney's Communications, And Notes That Disney Is Attempting To Sidestep The Longstanding Performance Issues At The Company; Calls Upon Disney Shareholders To Support Change By Electing Nelson Peltz And Jay Rasulo
Portfolio Pulse from Benzinga Newsdesk
Trian Fund Management, L.P. has nominated Nelson Peltz and Jay Rasulo for election to Disney's Board of Directors, opposing the reelection of incumbents Michael B.G. Froman and Maria Elena Lagomasino. Trian criticizes Disney's current board for deflecting from performance issues and misrepresenting Trian's contributions, highlighting Disney's underperformance in stock and earnings. Trian, owning over $3.5 billion in Disney shares, advocates for change to improve governance and oversight, emphasizing Disney's potential for future outperformance.

March 13, 2024 | 7:40 pm
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Trian Fund Management criticizes Disney's board for performance issues and misrepresentation, nominating Nelson Peltz and Jay Rasulo for board positions to drive change and improve governance.
Trian's public criticism and board nominations highlight significant governance and performance concerns at Disney. While the call for change could introduce uncertainty, Trian's substantial investment and historical activism suggest a potential for positive long-term impacts. However, the immediate market reaction may be neutral as investors weigh the prospects of Trian's influence against the current board's strategies.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100