Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Peltz's Trian wants Disney shareholders to reject two board directors at AGM

Published 01/31/2024, 06:47 PM
Updated 01/31/2024, 06:50 PM
© Reuters. FILE PHOTO: Nelson Peltz, founding partner of Trian Fund Management LP,  speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016.  REUTERS/Mike Blake/File Photo

(Reuters) - Nelson Peltz's Trian Fund Management has urged Walt Disney (NYSE:DIS) shareholders not to re-elect two board directors at the media conglomerate's annual general meeting, according to a proxy filing on Wednesday.

Peltz, who is in a battle with Disney to seek greater control and fix its performance, wants shareholders to withhold votes for Maria Elena Lagomasino and Michael Froman.

Lagomasino and Froman have been on Disney's board since 2015 and 2018, respectively. The 12-member group includes recent appointees Morgan Stanley Chairman James Gorman and Jeremy Darroch, a former group chief executive of Sky.

Peltz has sought election of himself and Jay Rasulo, a former chief financial officer at Disney, to the board.

The activist-investor has stepped up attacks and criticized Disney's financial performance.

Disney, which is yet to announce the date for its AGM, did not immediately respond to a Reuters request for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.