Director and CEO Letter to Disney Board in Support of Nelson Peltz and Trian
$DIS
The Board of Directors
The Walt Disney Company
500 South Buena Vista Street
Burbank, California 91521-0931
March 21, 2024
Dear Disney Directors,
As directors who have worked with Nelson Peltz at some of the world’s most respected companies, we are writing to convey our experience with Nelson in the boardroom and to encourage you to work with him for the benefit of all shareholders.
Some of us, like you, were skeptical about Nelson and were initially opposed to the notion of having him on our boards. Some of us worried that he might derail the successful execution of our strategy.
However, after having worked with Nelson, we know that our concerns were misplaced. The companies for which we served as board members alongside Nelson were improved because of his presence on the board.
Some of us became Nelson’s colleague after a bitter-fought proxy contest. Others of us asked Nelson to join our boards, and still others of us joined a board after Nelson was already on the board. But one experience we all share: Nelson entered the boardroom every meeting with an open mind, a focus on growth for the benefit of stakeholders and a commitment to working constructively towards our common goal of creating long-term shareholder value.
With his dedication, focus and sound judgment, Nelson contributed greatly to boardroom discussions. He asked tough questions and challenged our thinking – as any good director does – but was not disruptive or disrespectful. To the contrary, Nelson welcomed different perspectives and encouraged debate. Rather than stifle dissent, Nelson often catalyzed robust, productive discussions that helped move our companies forward.
Each of us would happily serve with Nelson again on another board.
Sincerely,
Former Directors and CEOs Who Have Worked with Nelson Peltz & Trian
Dennis R. Beresford
Executive in Residence – Terry College of Business, University of Georgia
Former Director of Legg Mason, Inc.
Francis S. Blake
Retired Chairman and CEO of The Home Depot, Inc.
Former Director of the Procter & Gamble Company
Charles E. Bunch
Former Chairman and CEO, PPG Industries, Inc.
Director of Mondelēz International, Inc.
John Cassaday
Retired President of and CEO of Corus Entertainment, Inc.
Chair of Janus Henderson Group plc
Ali Dibadj
CEO and Executive Director of Janus Henderson Group plc
Kenneth W. Gilbert
Retired CMO,VOSS of Norway ASA
Director of The Wendy’s Company
Jorge S. Mesquita
Former CEO, BlueTriton Brands, Inc.
Director of Mondelēz International, Inc.
John H. Myers
Retired President and CEO, GE Asset Management
Former Director of Legg Mason, Inc.
Dennis Reilley
Former Chairman and CEO, Praxair, Inc.
Former Director of H.J. Heinz Company
Sheila G. Talton
President and CEO Gray Matter Analytics
Director of Sysco Corporation
Thomas J. Usher
Former Chairman and CEO, United States Steel Corporation
Former Director of H.J. Heinz Company
Jean-François van Boxmeer
Former CEO, Heineken NV
Former Non-Executive and Lead Director of Mondelēz International, Inc.
Art Winkleblack
Lead Independent Director of The Wendy’s Company
Retired CFO, H.J. Heinz Company
Note that affiliations are listed for identification purposes only
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