Page 41 - Jay Rasulo News Today

Trian Fund Management will amp up its case to get Nelson Peltz and Jay Rasulo elected to the Disney board in the coming months.

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Nelson Peltz's Trian Fund Management is formally nominating the activist investor and a former Disney executive for a seat on Disney's board, two days after the media and entertainment company nominated a slate of directors that did not include either. Peltz and Jay Rasulo, Disney's former chief financial officer, said in a preliminary proxy filing Thursday that they wanted to complete a successful CEO succession at Disney and align management pay with performance. It was announce...

The proxy battle comes as CEO Bob Iger tries to streamline the sprawling media company to rein in spending and make its Disney streaming platform profitable.

Activist investor Trian Fund Management said in December they nominated two independent director candidates for the board, including its CEO, Nelson Peltz.

Disney CEO Bob Iger received $31.6 million in compensation during 2023, while ousted CEO Bob Chapek took in less than $10 million.

The Board unanimously recommends that shareholders vote for 12 other named nominees at the 2024 annual meeting

Walt Disney said Tuesday it "does not endorse" the candidates nominated by activist shareholders in a preliminary proxy filed with the Securities and Exchange Commission.

The Bob Iger-led company denied the nominations of Peltz, who also floated former CFO James Rasulo for the board.