The Walt Disney Co. is fighting back against Nelson Peltz, the activist investor waging a proxy battle against the company, seeking a board seat and a say in the company’s strategy.
On Tuesday Disney released a slideshow outlining its argument against Peltz, writing that the Trian Management CEO “does not understand Disney’s businesses, and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem.”
But Disney also acknowledged that some of the things Peltz is pushing for are already taking place, including implementing a cost-reduction plan and “streamlining our organizational structure to enhance productivity”; “prioritizing streaming profitability (in addition to revenue and subscriber growth)”; and “improving the guest experience” at its theme parks by providing “more value and flexibility.”
Peltz had…
