The Walt Disney Company has had its fair share of headaches over the last year.

From multiple lawsuits and less-than-stellar box office results to a second proxy battle for seats on Disney’s Board of Directors (waged yet again by Nelson Peltz), the Company has had to work hard to maintain investor support. And, that’s precisely why April 3rd is such a huge day for Disney.

The 2024 Walt Disney Company Annual Meeting of Shareholders is taking place on April 3rd, and we’re expecting to learn quite a few updates from the gathering. But, perhaps more importantly, that’s when shareholders of the Walt Disney Company will vote on Nelson Peltz’s (and others’) attempt to gain a seat on the Board of Directors.

We had previously shared that Trian nominated Peltz and former Disney CFO James Rasulo to the Walt Disney Company board back in December. Trian released a statement reading, in part, that the group “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.”

But, Disney has specified that “the Board does NOT endorse the nominations of Nelson Peltz and James Rasulo put forth by Trian Fund Management, L.P. and its affiliates, led by Nelson Peltz and supported by former Disney executive Isaac Perlmutter (collectively, the “Trian Group”).” The notice went on to say, “The Board recommends that shareholders do not vote for the Trian Group nominees, and that they reject a related proposal from the Trian Group to amend the Company Bylaws.”

Disney also made it clear that the Board “does not endorse the nominations of Craig Hatkoff, Jessica Schell and Leah Solivan put forth for election as directors by Blackwells Onshore I LLC, Blackwells Capital LLC and Jason Aintabi (collectively, the “Blackwells Group”).”

Peltz “brings no media experience and has presented no strategic ideas for Disney,” the Company said in a statement, while Rasulo “is stale given he left Disney in 2015 and has not held any executive positions in the industry since.”

Instead of Peltz, Rasulo, and the Blackwells Group, Disney has its own list of nominees — 12 of them, in fact. They are  “best qualified to create sustainable shareholder value. The Disney Board of Directors is comprised of engaged, diverse and dynamic leaders whose skills, perspective and insights are essential in driving profitable growth and delivering on Disney’s strategic priorities as the Company navigates ongoing, industry-wide challenges,” the Company said in a letter to shareholders.

You can see the list of 12 nominees that the Disney Board of Directors recommends for election at the 2024 Annual Meeting of Shareholders below:

• Mary T. Barra — Chair and Chief Executive Officer of General Motors Co.
• Safra A. Catz — Chief Executive Officer of Oracle Corp. and its former President
• Amy L. Chang — former senior executive at Cisco Systems, Inc. and Google and a current director of Procter & Gamble Co.
• D. Jeremy Darroch — former Executive Chairman and Group Chief Executive Officer of Sky
• Carolyn N. Everson — former senior executive at Instacart, Meta Platforms, Inc. and Microsoft Corp. and a current director of The Coca-Cola Co. and Under Armour Inc.
• Michael B.G. Froman — President of the Council on Foreign Relations and former Vice Chairman and President, Strategic Growth at Mastercard Inc.
• James P. Gorman — Executive Chairman and former Chairman and Chief Executive Officer of Morgan Stanley
• Robert A. Iger — Disney’s Chief Executive Officer, formerly also served as Chairman
• Maria Elena Lagomasino — Chief Executive Officer and Managing Partner of WE Family Offices and a former senior executive at JP Morgan Private Bank and Chase Manhattan Bank and a current director of The Coca-Cola Co.
• Calvin R. McDonald — Chief Executive Officer of lululemon athletica inc.
• Mark G. Parker — serves as Chairman of the Disney Board, is Executive Chairman of NIKE, Inc. and its former Chairman, President and Chief Executive Officer
• Derica W. Rice. — former senior executive at CVS Health Corp. and Eli Lilly and Co. and a current director of The Carlyle Group Inc., Bristol-Myers Squibb Co., and Target Corp.

In addition to the shareholders meeting happening on April 3rd, we also expect to hear quite a bit of updates from the company during the first quarter earnings call of 2024. That call is taking place on February 7th at 4:30PM EST, so make sure you keep an eye out for the latest news from that!

We’ll be bringing you the latest updates from the next Disney earnings call and shareholders meeting, so be sure to stay tuned to DFB for more!

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The post Why April 3rd Is a BIG DAY for the Walt Disney Company first appeared on the disney food blog.