Disney Attempts Course Correction After Massive Document Reveals 'False Statements'

In the latest voting battle between the Walt Disney Company and Nelson Peltz’s Trian Group, the House of Mouse has revealed an extensive document attempting to correctly represent the company after the billionaire’s company unveiled a massive 130-page assault on the House of Mouse.

Disney Claps Back at Nelson Peltz and Trian Group

In the ongoing proxy battle between the House of Mouse and Nelson Peltz’s Trian Group, Disney has countered Trian’s assertions with a comprehensive presentation aimed at refuting claims made in Trian’s recently released whitepaper titled “Restore the Magic,” spanning 130 pages.

Disney’s response comes in a 21-slide PowerPoint presentation, meticulously crafted to “correct” what Disney alleges are inaccuracies within Trian’s whitepaper. The presentation, available for scrutiny in its entirety, contends that Trian’s whitepaper is “rife with inaccuracies,” including but not limited to:

• The correlation between Disney’s stock performance since October 6, 2023, and Trian’s involvement.
• Assertions that purchasing Disney stock over the past decade has yielded unfavorable results.
• Accusations of the Disney Board’s sluggishness in adapting to industry disruptions.
• Claims of close personal ties between Disney directors and former CEO Bob Iger, with insinuations of Iger’s direct involvement in board selection.
• Allegations of flawed compensation practices lead to misalignment between management and shareholder interests.
• Assertions regarding the potential positive impact of Peltz and Rasulo’s addition to Disney’s Board.

Each of these points is meticulously addressed within Disney’s presentation, backed by evidence aimed at rebutting Trian’s claims.

At the upcoming Disney Annual Meeting of shareholders slated for April 3, Nelson Peltz and the Trian Group will endeavor to secure board seats currently held by Michael B.G. Froman and Maria Elena Lagomasino.

In a show of solidarity with Bob Iger amidst the proxy battle, the grandchildren of Walt and Roy Disney have penned letters expressing unwavering support for Iger and the company’s stance against Trian.

Furthermore, today, Jamie Dimon, CEO of JPMorgan Chase, publicly voiced his support for Disney CEO Bob Iger in the ongoing proxy battle, further amplifying backing for Disney’s leadership amidst this high-stakes corporate showdown.

Nelson Peltz and Trian Group rebut the response discussed in this article, which pins the two companies even further against each other as the April voting date looms closer and closer.

Time will tell how this legal warfare will turn out for the House of Mouse. The Disney Board of Directors might look different when summer strikes nationwide.