The Walt Disney Company’s 2024 Annual Meeting of Shareholders just concluded and we’ve got a summary of the highlights that were shared.
At the start of the meeting, Nelson Peltz of Trian Fund Management addressed the shareholders. Peltz reminded shareholders that the company invested $3.5 million in Disney in late 2022, stating that they invest in companies that have “stumbled” and need help. Peltz continued with some of the same remarks he’s said in the past about the board being disappointed with Disney’s long-term track record. He also said that despite today’s results, “Trian will be watching the company’s performance.”
During the meeting, it was announced that based on the tabulation of Disney’s proxy solicitor, it appears that Disney’s full slate of 12 directors had been elected by a substantial margin over the nominees of Trian and Blackwells. Final voting tallies are subject to certification by the company’s independent inspector of elections and preliminary and final results will be included in the company’s report to be filed with the Securities and Exchange Commission in the coming days.
Bob Iger, Disney CEO, announced during the meeting that Moana 2 will be released in theatres on November 27, 2024, with the same actors we know and love: Dwayne “The Rock” Johnson and Auliʻi Cravalho from the original film. We were also given the first look at the upcoming film’s artwork.
A first look at the Avatar-themed land coming to Disneyland Resort was also shared. Iger also said that Disney’s plans for the Disneyland Forward project are set to go to the Anaheim City Council later this month.
During the question and answer part of the meeting, Iger was asked specifically about Universal’s Epic Universe. He said that they have been aware of Epic Universe “for more than a decade” and have continued to add attractions and experiences to the Disney Parks.
The company’s proxy statement for Wednesday’s meeting reminds us all that The Walt Disney Company has a strong foundation in creativity and innovation. This legacy has been further strengthened by hard work in restructuring and improving cost efficiency this year. With the new setup, creativity is now at the core of the company. Disney says that progress that’s been made over the past year is significant, though work on performance continues. There’s been a shift from fixing to developing the business. With that, Iger announced that the ESPN stand-alone service will launch in the fall of 2025.
- Revenues increased 7% year over year to $88.9 billion
- Cash provided by continuing operations increased 64% year over year to $9.9 billion
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
