Articles from Trian Fund Management, L.P.

Despite Performance Declines Since Spinning Out of 3M, Trian Believes Solventum Has Potential to Drive Significant Improvements as a Standalone Company

NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- The Trian Group,1 which beneficially owns over $3.5 billion of common stock in The Walt Disney Company (NYSEDIS), today commented on the preliminary results from Disney’s 2024 Annual Meeting of Shareholders, which indicated that Nelson Peltz and Jay Rasulo were not elected to Disney’s Board of Directors.

CalPERS and Neuberger Berman Vote “For” Nelson Peltz and Jay Rasulo, Citing the Need for “Fresh Eyes” and “More Independence” in Disney’s Boardroom

Joins ISS in Recognizing the Need for Board Change at Disney

Emphasizes that the Election Contest is About Board Oversight, Not About Bob Iger

ISS Cites Disney’s Operating and Stock Underperformance, Succession Failures and the Board’s Need to Improve its Effectiveness

Letter Details Positive Experience Working with Nelson Peltz and Highlights Trian’s Track Record of Working Constructively to Create Shareholder Value

Advises Shareholders to Vote “FOR” Nelson Peltz and James A. (“Jay”) Rasulo on the BLUE Proxy Card

Expresses disappointment in the mudslinging tone and content of Disney’s communications, and notes that Disney is attempting to sidestep the longstanding performance issues at the Company

Describes Years of Board Failure on Core Responsibilities and Outlines Initiatives to Restore the Magic

Advises Shareholders to Vote “FOR” Nelson Peltz and James A. (“Jay”) Rasulo on the Revised BLUE Proxy Card

Sends Letter to Disney Shareholders Highlighting Need for Enhanced Director Focus, Alignment and Accountability and Asking its Owners to Vote for Change to Ensure a Better Future

NEW YORK, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Trian Fund Management, L.P. (together with its affiliates, “Trian”, “our”, “we” or “us”), which beneficially owns $3 billion of common stock in The Walt Disney Company (NYSEDIS) (“Disney” or the “Company”), today filed a preliminary proxy statement with the Securities and Exchange Commission (“SEC”) in connection with its nomination of Nelson Peltz and James A. (“Jay”) Rasulo for election to the Disney Board of Directors (the “Board”) at the Company’s 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”).

Believes the Disney Board’s Lack of Focus, Alignment, and Accountability Has Resulted in Chronic Underperformance at One of the World’s Most Iconic Companies

Trian Fund Management, L.P. (together with its affiliates, “Trian” or “we”) beneficially owns approximately $3 billion of stock in The Walt Disney Company (NYSEDIS) (“Disney” or the “Company”). This morning, following conversations with Disney’s CEO, Disney extended an offer to Trian to meet with the Board but informed Trian that the Board is turning down Trian’s recent request for Board representation, including Nelson Peltz. Trian said the following regarding the discussions:

Trian Fund Management, L.P. (“Trian”), whose investment funds collectively own approximately 9.4 million common shares of The Walt Disney Company (NYSEDIS) (“Disney” or the “Company”) valued at approximately $1 billioni, today issued the following statement:

Trian Fund Management, L.P. (“Trian”), whose investment funds collectively own approximately 9.4 million common shares of The Walt Disney Company (NYSEDIS) (“Disney” or the “Company”) valued at approximately $1 billioni, sent a letter and proxy statement to its fellow Disney shareholders highlighting that:

Trian Fund Management, L.P. (“Trian”), whose investment funds collectively own approximately 9.4 million common shares of The Walt Disney Company (NYSEDIS) (“Disney” or the “Company”) valued at approximately $900 millioni, tomorrow will file a preliminary proxy statement with the Securities and Exchange Commission for the election of Nelson Peltz, its Chief Executive Officer and Founding Partner, to Disney’s Board of Directors at the 2023 Annual Meeting of Shareholders.