A new video from Disney pulls no punches when talking about activist investors Trian Partners, and the two members seeking seats on Disney’s Board of Directors: Nelson Peltz and Jay Rasulo. The video, which is available below and on the VoteDisney website, talks about the negatives that Disney believes will come to Disney if Peltz and Rasulo succeed in their proxy battle.
The video calls Peltz ambitions “more about vanity than a belief in Disney”. Disney notes that Peltz has sold off and cashed in on millions of dollars worth of Disney shares during his fight with Disney.
Turning to Disney’s assessment of Rasulo, they say he’s “a former Disney employee who was passed over for a promotion nearly a decade ago”, and that “he hasn’t been employed since leaving Disney”.
Disney then sets their sights on “another former disgruntled employee” Ike Perlmutter. Perlmutter has teamed up with Peltz and Rasulo to bring billions of dollars worth of Disney shares into the proxy fight. Disney says that Perlmutter “has his own lengthy record of destructive behavior inside Disney”. Disney mentions Perlmutters’ grudge with Disney CEO Bob Iger.
Disney also talks about Iger’s “ambitious plan to build Disney’s future”. In the video below, Disney mentions its plan to repurchase $3 billion worth of stock, increase dividends, and how it is turning a corner from “significant fixing” to creating “lasting, long-term value”.
Disney closes by saying that Peltz and Rasulo “threaten to jeopardize the incredible progress that the Company has made since Bob returned as CEO”.
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