In Disney Board Fight, Nelson Peltz Will Nominate Himself and Ex-Disney CFO Jay Rasulo as Director Candidates

variety.com:

Todd Spangler NY Digital Editor Activist investor Nelson Peltz, who’s looking to shake up Disney‘s board, plans to nominate two directors as candidates for directors of the Mouse House’s board: Peltz himself, and former Disney CFO Jay Rasulo.

Peltz’s Trian Fund Management said Thursday it submitted a notice of its intention to nominate the two independent director candidates at Disney’s 2024 annual shareholders meeting, expected to be held next spring. “Disney is one of the most iconic companies in the world with unrivaled scale, unparalleled customer loyalty, irreplaceable intellectual property (IP) and an enviable commercial flywheel.

However, Disney has woefully underperformed its peers and its potential,” Trian said in a statement. Disney confirmed that Trian provided notice of its intent to nominate Peltz and Rasulo as directors.

The company said the board’s governance and nominating committee, which evaluates director nominations, “will review the proposed Trian nominees and provide a recommendation to the board as part of its governance process.” Responding to Trian, Disney said the company “has an experienced, diverse and highly qualified board that is focused on the long-term performance of the company, strategic growth initiatives including the ongoing transformation of its businesses, the succession planning process, and increasing shareholder value.” Last month, Peltz’s Trian Fund Management renewed its proxy fight to get its directors on the Disney board.