Summary by Moomoo AI
The Walt Disney Company responded to the SEC's comments on its Preliminary Proxy Statement, filed on January 16, 2024. The SEC's letter, dated January 24, 2024, addressed concerns regarding the factual basis for certain statements in the proxy, particularly those about CEO Bob Iger's leadership and the company's strategic progress. Disney outlined its achievements under Iger, including a strategic transformation leading to substantial cost savings, growth in the ESPN business, and box office success with films like 'Avatar: The Way of Water'. The company also detailed its response to criticisms from the Trian Group, including concerns about the potential influence of Mr. Perlmutter on nominee Nelson Peltz. Disney confirmed that it would revise its disclosures in the next proxy statement to address the SEC's comments, including the vote required for shareholder proposals and the disclosure of information for officers and employees. The company's response was signed by Daniel J. Cerqueira and addressed to the SEC's Division of Corporate Finance and Office of Mergers & Acquisitions.