Disney\u2019s Board of Directors issued a letter in response<\/a>\u00a0indicating that it doesn’t endorse Nelson Peltz or his son as nominees (clearly). The board \u201cbelieves the election of either Mr. Peltz or his son would threaten the strategic management of Disney during a period of important change in the media landscape.\u201d<\/p>\nThe letter continues: \u201cInexplicably, Trian seeks to replace Michael Froman, a highly valued member of the Board with deep background in global trade and international business, who the Board believes is far better qualified than either Mr. Peltz or his son to help drive value for shareholders. Neither Mr. Peltz nor his son offer skills or experience additive to the Disney Board that replace the decades-long experience of Mr. Froman.\u201d<\/p>\n
The remainder of the letter continues by laying out Michael Froman\u2019s many years of expertise in enterprise and worldwide affairs, explaining how that\u2019s essential to serving to Disney assess the dangers and alternatives in an more and more advanced world market. Mr. Froman has a powerful background\u2013it\u2019s response. (There\u2019s much more to the letter, however it basically retreads floor that has already been lined.)<\/p>\n
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