Disney Seeks Out Nike, General Motors, and Lululemon Execs for Board of Directors

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The Walt Disney Company released its official list of 12 nominees for its Board of directors, which includes Bob Iger and some other shocking executives.

The Walt Disney Company - Bob Iger presenting at the D23 Expo 2019
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The Walt Disney Company Has Revealed Its List of Potential Board of Directors

Just moments ago, the Walt Disney Company released a statement confirming its official list of the 12 nominees that it plans to have voted for the Board of Directors in 2024. The list is as follows:

  • Mary T. Barra (CEO of General Motors)
  • Safra A. Catz (CEO of Oracle)
  • Amy L. Chang (Walt Disney Director)
  • D. Jeremy Darroch (Former CEO of Sky plc)
  • Carolyn N. Everson (Former President of Instacart)
  • Michael B.G. Froman (Former United States Trade Representative)
  • James P. Gorman (CEO of Morgan Stanley Wealth Management)
  • Robert A. Iger (Current CEO of Disney)
  • Maria Elena Lagomasino (CEO and managing partner of WE Family Offices)
  • Calvin R. McDonald (CEO of Lululemon Athletica)
  • Mark G. Parker (Former executive chairman of Nike, Inc.)
  • Derica W. Rice (Former chief financial officer of Eli Lilly)

The Walt Disney Company Board officially disclosed its recommended slate of 12 nominees for election at the 2024 annual meeting. Also – the board does not endorse the Trian nominations of Nelson Peltz and James Rasulo.

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Credit: Disney

The Board of Directors of The Walt Disney Company (NYSE: DIS) has unveiled its proposed slate of 12 nominees for election at the upcoming 2024 Annual Meeting of Shareholders. This information has been shared through preliminary proxy materials filed with the Securities and Exchange Commission. The selection of nominees underscores Disney’s unwavering dedication to maintaining a robust Board focused on the company’s long-term performance, strategic growth initiatives, succession planning, and enhancing shareholder value.

It is important to note that the Board is not endorsing the nominations of Nelson Peltz and James Rasulo, presented by Trian Fund Management, L.P., and its affiliates. This group, led by Nelson Peltz and supported by former Disney executive Isaac Perlmutter (collectively known as the “Trian Group”), has put forth these nominations. The Board advises shareholders against voting for the Trian Group nominees and recommends rejecting a corresponding proposal from the Trian Group seeking an amendment to the Company Bylaws.

The Walt Disney Company - Guests with Mickey Mouse at Disney Hotel Santa Fé
Credit: Disney

Disney also released official statements stating the following:

The Board has been continually refreshed, with a focus on directors whose industry experience is additive to the company’s strategic priorities. This includes the recent additions of Darroch, former Executive Chairman and Group Chief Executive Officer of Sky; and Gorman, Executive Chairman and former Chairman and Chief Executive Officer of Morgan Stanley, both of whom will be standing for election at the annual meeting. The average tenure of the current Board is six years, with seven out of twelve serving less than six years, and the Board is led by an independent chairman.

The nominees reflect Disney’s ongoing commitment to a strong Board focused on the long-term performance of the company, strategic growth initiatives, the succession planning process, and increasing shareholder value.

Disney has released no other word, but they are asking to remove the nominations by Nelson Peltz and James Rasulo, which were put forth by Trian Fund Management, L.P., and its affiliates.

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