Nelson Peltz, the Trian Management founder who is leading a proxy fight against the entertainment company, is targeting Disney board member Michael B.G. Froman in the battle.
On Thursday, Peltz’s firm released a proxy form and began messaging Disney shareholders, urging them to withhold votes for Froman, and to vote for Peltz instead.
Trian also released a new open letter to Disney shareholders, tweaking its messaging in a subtle but critical way: In its initial presentation, Trian focused on the performance of Disney CEO Bob Iger and his predecessor Bob Chapek. In the new letter, Trian is targeting Disney’s board, calling out Disney’s declining stock price and EPS in 2022, as well as its decision to cancel its dividend, adding that “it is clear the Board of Directors has caused this recent destruction of value.”Disney Proxy Fight: Nelson Peltz Targets Michael Froman – The Hollywood Reporter