Credit: DisneyDisney has an important meeting on the horizon.
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The Walt Disney Company has revealed the date for its annual shareholder’s meeting. The meeting will be held on April 3 at 10 P.M., and like always, the event will be virtual.
The last year or so has been an absolute whirlwind for The Walt Disney Company, with multiple executives either being cut or fired, as well as Disney’s performance on Wall Street waning significantly.
Of course, each time a shareholders meeting rolls around, we find out that Disney has once again reached record-breaking profits. However, these meetings and reports are still interesting and crucial to observe and understand.
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A notice to shareholders also revealed that the Walt Disney Company Board of Directors claims that this meeting will be especially important as investor Nelson Peltz of Trian Group is attempting to oust the Disney-endorsed Michael Froman from being nominated.
“The current board is the right board for Disney shareholders,” the company stated in a recent report filed with the SEC. Disney’s current board of directors added, “Nelson Peltz does not understand Disney’s business and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem.”
Disney went on to further respond, saying “Peltz has no track record in large-cap media or tech, no solutions to offer for the evolving media landscape. And if MSG Sports is his training ground, it has not been a good one.”
Disney has been involved in a proxy fight between activist investor Nelson Peltz and his fund, Trian Partners. Trian has nominated Peltz to serve on the Board. Trian filed several reports and presentations over the last couple of days to try and convince Disney shareholders to vote for Peltz as director at the upcoming annual meeting, which has prompted leadership at The Walt Disney Company to fire back. This will all culminate on April 3.
Only time will tell what comes of this meeting, but it is poised to be one of the most important and interesting meetings in recent years.
Will you be watching the meeting in April?