Disney has formally responded to activist shareholder Trian Fund Management’s unsolicited nominations of Trian chief Nelson Peltz and former Disney CFO James Rasulo to the media giant’s board of directors.

The company acknowledged the nominations and also noted that Trian has teamed up with former Marvel Entertainment boss Ike Perlmutter. The executive was pushed out of the company years ago by CEO Bob Iger. Rasulo at one time was considered a potential successor to Iger. His run as an executive lasted from 1986 to 2015, the last five of those years as CFO. He had also served a stint as Chairman of the company’s Parks and Resorts division.

In a statement (read it in full below), Disney said the board’s Governance and Nominating Committee, which evaluates all director nominations, will review the Trian nominees. The committee will then provide a recommendation to the board. Board elections are conducted annually at the company’s shareholder meeting. The 2024 meeting date has not yet been set, but the clash between Iger and Trian has the potential to become a storyline at the event.

Here’s Disney’s full statement:

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Source: DLine

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