Disney has finally announced the date for its annual shareholder meeting, a virtual event, scheduled to take place on Monday, April 3 at 10 a.m. PT.
It was highly anticipated information amid a flurry of SEC filings as Trian Group activist investor Nelson Peltz seeks a seat on the board against the company’s own listing. He recommends that shareholders vote against a Disney-backed director, Michael Froman, and elect him instead. He objected to the company’s succession planning and wants to address it just as a recently retired Bob Iger returns and Disney prepares to report its quarterly results on Wednesday. and possibly other news from reorganizations to layoffs.
Meetings for Disney’s fiscal year through the end of September are usually held in early to mid-March.
According to Trian, Peltz’s experience positions him better than Froman “to help the board improve accountability, align executive pay with shareholder interests, plan for executive succession, address operational challenges and improve capital allocation practices.”
Disney calls From’s contributions invaluable and says Peltz on the board “will jeopardize Disney’s strategic management at a time of significant shifts in the media landscape.”
It is a zero sum game as there are 11 directors and now 12 nominees for shareholders to vote at the meeting. Each party has or will soon send out ballots and supporting materials. The 11 candidates with the most votes win.
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Source: Deadline
Bernice Bonaparte is an author and entertainment journalist who writes for The Fashion Vibes. With a passion for pop culture and a talent for staying up-to-date on the latest entertainment news, Bernice has become a trusted source for information on the entertainment industry.
