UPDATE 12:00 noon: The Walt Disney Company has issued an official statement regarding Nelson Peltz’s choice to walk away from his proxy fight. The statement is as follows:
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.
During an interview on Thursday morning with CNBC, activist investor Nelson Peltz called into CNBC to announce that he’s ending his proxy fight with The Walt Disney Company for a seat on the board after Disney CEO Robert Iger shared his plans for restructuring the company.
This was a great win for all the shareholders. Management at Disney now plans to do everything we wanted them to do. We wish the best to Bob, the management team, and the board.
Stay tuned as we’ll have more details from CNBC’s interview with Iger.
Senior Editor for the DIS and DCL Fan | Disney Vacation Club Member | Thrilled to have been a '13/'14 Disney Parks Moms Panelist (now planDisney) | Lover of all things Disney; the Magic of Disneyland, Walt Disney World, and Disney Cruise Line | ºoº