Disney Responds to Nelson Peltz & Trian Group’s Push to Replace Michael Froman

The Walt Disney Company has issued a statement in response to the building pressure from Nelson Peltz and Trian Group to join the Board of Directors, according to The Wrap.

“The Disney Board of Directors does not endorse Nelson Peltz (or his son Matthew, who is running as an alternate Mr. Peltz may swap in) as a nominee. [Disney] believes 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.”

The statement is a direct response to a proxy issued by Peltz today, urging the board members to vote for himself rather than current board member Michael Froman.

“Inexplicably, 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,” reads the statement.

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