Disney Adds Viacom And Facebook Veteran Carolyn Everson To Board Of Directors

deadline.com:

The Walt Disney Co., after some cage-rattling by activist investor Daniel Loeb, has added former Viacom and Facebook exec Carolyn Everson to its board of directors.

Everson, 50, will officially join the board on November 21. Loeb, in a letter to company CEO Bob Chapek, had drawn attention to the relative lack of media and tech experience among board members.

He made other criticisms, including the decision to stand pat with ESPN, though he later issued a partial withdrawal of the grievances, citing productive conversations with Chapek.

In a press release, the company said Everson’s selection as the company’s 12th board member “follows a lengthy and comprehensive search, and reinforces Disney’s commitment to a strong, independent board focused on the long-term performance of the company.” The release notes that the selection of Everson was backed by Loeb’s hedge fund, Third Point, “which has entered into a support agreement with Disney following a constructive dialogue.” As part of the resolution with Third Point, the fund has agreed to customary standstill, voting and other provisions through Disney’s 2024 annual meeting, Disney said.