DIS - Blackwells Capital Nominates Jessica Schell Craig Hatkoff and Leah Solivan for Election to the Board of Disney | Benzinga
Launches Campaign to Preserve CEO Bob Iger's Value Creation Vision
Demands that Trian and Nelson Peltz Immediately End Their Backward-Looking, Adventitious Campaign
NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Blackwells Capital, a shareholder of The Walt Disney Company ("Disney" or the "Company") (NYSE:DIS) today announced that it has nominated three highly qualified candidates – Jessica Schell, Craig Hatkoff and Leah Solivan – for election to the board of directors of Disney (the "Board") at the Company's 2024 annual meeting of shareholders (the "2024 Annual Meeting").
Blackwells' November 30, 2023 press release catalyzed the idea that shareholders deserve the opportunity to continue supporting Disney's turnaround and transformation efforts under the leadership of the current Board and CEO, Robert A. Iger, unbound by Trian Fund Management, L.P. ("Trian") and Nelson Peltz's reprise of a contrived campaign that is disconnected from the needs of Disney stakeholders.
Ten months ago, Mr. Peltz withdrew Trian's unnecessary proxy fight at Disney. Mr. Peltz would now have shareholders elect him personally, along with a disgruntled former Disney employee. Neither candidate has the skillsets Trian claims the Board lacks. Rather, we believe Mr. Peltz's latest effort is driven by animus against Mr. Iger, and an ego-driven urge to claim credit for a transformation already underway.
Flip-flopping, self-interest and personal quarrels have no place in a Boardroom. Individuals seeking to gain representation on Disney's Board must have skillsets that the Board needs as well as a demonstrable record of creating value for all stakeholders. Mr. Peltz and his coterie seem to fail that test, time and time again1.
Trian and Mr. Peltz also appear to be grouping and jointly soliciting with Ancora Holdings Group, LLC ("Ancora") – a firm Blackwells believes has a pattern of questionable business dealings2, including a run-in with the SEC3. Ancora is led by Fred DiSanto, who seems to have a personal agenda as well4. Disney shareholders should be concerned by the possibility of such ...