Disney also said Nike Executive Chairman Mark Parker would become the next chairman of its board.
. The firm said it plans to file a proxy statement with federal regulators Thursday.
"Trian's objective is to create sustainable, long-term value at Disney by working WITH Bob Iger and the Disney Board," the firm said. "We recognize that Disney is undergoing a period of significant change and we are NOT trying to create additional instability." "While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, the Board does not endorse the Trian Group nominee, and recommends that shareholders not support its nominee, and instead vote for all the company's nominees," Disney said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney snubs activist investor Nelson Peltz, names Nike’s Mark Parker as chairmanThe company on Wednesday named independent director and Nike Executive Chairman Mark Parker as its next chairman, replacing Susan Arnold, who will not stand for re-election.
Read more »
Disney, activist investor Peltz gird for fight over board seatActivist investor Nelson Peltz on Wednesday was gearing up for a proxy fight with Walt Disney Co after the entertainment giant snubbed his bid for a board seat.
Read more »
Disney, faced with proxy fight, names former Nike CEO Mark Parker as board chairmanDisney's board of directors has elected former Nike Chief Executive Mark Parker to be its next chairman, but the move comes as the company faces a proxy fight with an influential activist shareholder.
Read more »
Nike Executive Chairman Mark Parker to be named chairman of DisneyWalt Disney Co.'s undefined board of directors on Wednesday announced it has elected independent director Mark Parker as chairman. Parker, a seven-year...
Read more »
Disney names Nike executive Mark Parker as new chairman | CNN BusinessThe Walt Disney Company has named Nike executive chairman Mark Parker as its new chairman, replacing longtime board member Susan Arnold, whose term limit is expiring.
Read more »