With Nelson Peltz angling for a seat on Disney’s board, the company today blasted the activisit investor, his firm, and his son, Matthew Peltz, whom Trian is proposing as a possible alternate candidate
’s board, the company today blasted the activist investor, his firm Trian Group, and his son, Matthew Peltz, whom Trian is proposing as a possible alternate candidate.
The 11 directors with the most votes win, so Peltz has to basically unseat one one Disney’s nominees and has targeted Michael Froman, citing lack of board experience and urging shareholdrs to withold support for Froman and vote for him instead. Its justification: “Trian Group believes Mr. Froman has no experience as a public company director outside of Disney, and, moreover, has served as a member of the Governance and Nominating Committee of the Board, which the Trian Group believes has overseen weak corporate governance at the Company. In contrast, Nelson Peltz has served on numerous public company boards over the last several years, including The Procter & Gamble Company, Unilever plc, Mondelēz International, Inc.
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