Statement From The Walt Disney Company

Rhea-AI Summary

The Walt Disney Company (NYSE: DIS) announced that Trian Fund, led by Nelson Peltz, will no longer pursue a proxy contest, thereby alleviating a potential distraction for the company. Disney’s Board expressed appreciation for Trian’s decision and reaffirmed its commitment to a century of creativity and sustainable growth. The statement emphasized confidence in CEO Bob Iger's leadership and vision for Disney’s future. Additionally, Disney looks forward to engaging with shareholders during the upcoming annual meeting on April 3, 2023, where all shareholders of record as of February 8, 2023, can vote.

Positive

• Trian Fund's withdrawal from the proxy contest eliminates potential distractions for Disney.
• Disney's Board expresses confidence in CEO Bob Iger's leadership and vision.
• The company is committed to sustained growth and profitability.

Negative

• None.

BURBANK, Calif.--(BUSINESS WIRE)-- The Walt Disney Company (NYSE: DIS) Board of Directors issued the following statement today in response to Nelson Peltz’s announcement that Trian Fund is no longer pursuing a proxy contest at Disney:

“We respect and value the input of all our shareholders and we appreciate the decision by Trian Fund announced by Nelson Peltz this morning.

This is a moment of great opportunity for The Walt Disney Company, as we recommit to our historic 100-year legacy of unrivaled creativity and a future of sustained growth and profitability. We are pleased that our Board and management can remain focused without the distraction of a proxy contest, and we have tremendous faith in Bob Iger’s leadership and the transformative vision for Disney’s future he set forth yesterday.

We will continue to engage with all our shareholders, and we look forward to our upcoming annual meeting on April 3, 2023. All shareholders of record as of the close of business February 8, 2023 are entitled to vote at the meeting.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005617/en/

Media Contacts:

David Jefferson

The Walt Disney Company

(818) 560-4832

Steve Lipin

Gladstone Place Partners

(212) 230-5930

Investor Contact:

Alexia Quadrani

The Walt Disney Company

(818) 560-6601

Source: The Walt Disney Company

FAQ

What did Trian Fund announce regarding Disney on February 9, 2023?

Trian Fund announced that it is no longer pursuing a proxy contest at Disney.

What is the significance of Trian Fund's decision for Disney's shareholders?

The decision allows Disney's Board and management to focus on the business without the distraction of a proxy contest.

When is Disney's upcoming annual shareholder meeting?

Disney's annual shareholder meeting is scheduled for April 3, 2023.

Who is the CEO of Disney mentioned in the press release?

Bob Iger is the CEO of Disney, as mentioned in the press release.

What date must shareholders be recorded by to vote at Disney's annual meeting?

Shareholders must be recorded by February 8, 2023, to vote at the meeting.