Thu, February 2, 2023 at 8:00 AM EST·11 min read
Sends Letter to Shareholders Urging a Vote "FOR" Nelson Peltz and to "WITHHOLD" on Michael B.G. Froman at the Upcoming Annual Shareholders Meeting
Files Definitive Proxy Statement
NEW YORK, February 02, 2023--(
BUSINESS WIRE)--Trian Fund Management, L.P. ("Trian"), whose investment funds collectively own approximately 9.4 million common shares of The Walt Disney Company (NYSE: DIS) ("Disney" or the "Company") valued at approximately $1 billioni, sent a letter and proxy statement to its fellow Disney shareholders highlighting that:
- Disney lost over $120 billion of its market value in 2022ii
- Disney’s earnings per share have declined by 50% since 2018iii
- Disney eliminated its dividend in 2020 for the first time in 57 years
In the letter and proxy statement, Trian urged Disney shareholders to take action and to vote for change at the upcoming annual shareholders meeting by electing Trian’s experienced and motivated candidate, Nelson Peltz, to Disney’s Board.