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Disney Says Nelson Peltz On Board Would “Threaten Strategic Management” At Crucial Time As Proxy Battle Boils

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deadline.com

With Nelson Peltz angling for a seat on Disney’s board, the company today blasted the activist investor, his firm Trian Group, and his son, Matthew Peltz, whom Trian is proposing as a possible alternate candidate. “The Disney Board of Directors does not endorse Nelson Peltz (or his son Matthew, who is running as an alternate Mr.

Peltz may swap in) as a nominee, and believes the election of either Mr. Peltz or his son would threaten the strategic management of Disney during a period of important change in the media landscape,” the company said today.

Disney shareholders will vote on the boad of directors at the next annual meeting. The event is usually in early March but may be delayed a bit this year.

The company is proposing slate of 11 directors — it used to be 12 until the retirement of former board chair Susan Arnold. Peltz has gotten himself added to the ballot and the battle, called a proxy fight, is heating up.

Read more on deadline.com
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