News Summary

• Peltz and his hedge fund, which owns $3 billion of Disney common stock, have pushed for a spot on Disney's board of directors based on the belief that they can improve the company's performance..
• It is time to ‘Restore the Magic’ at Disney," he concluded.Trian's letter noted that Disney's total shareholder return is "significantly lower than its peers and the broader market over every relevant period during the last decade, and over the tenure of each non-management director..
• They also wrote that Disney's financial underperformance "is the result of a Board that has failed to adequately perform its primary responsibilities as stewards of shareholder capital..
• "It is unfortunate that a company as iconic as Disney and with so many challenges and opportunities has refused to seriously engage with us, its largest active shareholder, about board representation," Peltz wrote..
• "The document stated that in terms of total shareholder return (TSR) through October 6, 2023, Disney's returns have lagged the S&P 500 by 34% over the prior year and 168% in the past 10 years..
• (PATRICK T. FALLON/AFP via Getty Images / Getty Images)"Are Disney shareholders really to believe the current Board is able to heal these self-inflicted wounds?.