The Board of Directors of Walt Disney Co. (DIS) has communicated its recommendation to shareholders, asking them to cast their votes only in favor of the company's selected 12 nominees, and not to support the proposals put forward by the Trian Group or Blackwells. The company's Annual Shareholders' Meeting for 2024 is scheduled for April 3rd of that year. It is noted that all shareholders who are officially recorded as of February 5, 2024, have the right to participate in the vote during the meeting.
Disney expressed its board's stance of not endorsing the nominees suggested by the Trian Group, namely Nelson Peltz and Jay Rasulo, or the candidates offered by Blackwells, including Craig Hatkoff, Jessica Schell, and Leah Solivan. This belief was based on the perspective that these individuals lack the requisite diversity of experience, proficiency, mindset, and relevant proficiency to successfully augment the board's progressive attempts at fostering profitable growth and the creation of shareholder value in a persistent environment of sector-wide challenges.
