Summary by Moomoo AI
On April 1, 2024, Trian Fund Management, L.P. ("Trian") announced the support of two major institutional investors, CalPERS and Neuberger Berman, for its nominees Nelson Peltz and Jay Rasulo ahead of The Walt Disney Company's annual shareholder meeting scheduled for April 3, 2024. Trian, which owns over $3.5 billion in Disney stock, is advocating for changes in Disney's boardroom, citing a need for fresh perspectives and more independence to address Disney's corporate governance issues, including executive pay alignment and CEO succession planning. The support from CalPERS and Neuberger Berman follows endorsements from other investors and proxy advisory firms such as Yacktman Asset Management, Institutional Shareholder Services, and Egan-Jones, who have also expressed the need for change in Disney's board composition. Trian emphasizes the importance of electing Peltz and Rasulo to improve focus, alignment, and accountability within Disney's Board to enhance long-term sustainable earnings growth for stakeholders.
