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Peltz's Trian wants Disney shareholders to reject two board directors at AGM

Reuters
·1-min read
FILE PHOTO: Nelson Peltz, founding partner of Trian Fund Management LP, speaks at the WSJD Live conference in Laguna Beach, California

(Reuters) - Nelson Peltz's Trian Fund Management has urged Walt Disney shareholders not to re-elect two board directors at the media conglomerate's annual general meeting, according to a proxy filing on Wednesday.

Peltz, who is in a battle with Disney to seek greater control and fix its performance, wants shareholders to withhold votes for Maria Elena Lagomasino and Michael Froman.

Lagomasino and Froman have been on Disney's board since 2015 and 2018, respectively. The 12-member group includes recent appointees Morgan Stanley Chairman James Gorman and Jeremy Darroch, a former group chief executive of Sky.

Peltz has sought election of himself and Jay Rasulo, a former chief financial officer at Disney, to the board.

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The activist-investor has stepped up attacks and criticized Disney's financial performance.

Disney, which is yet to announce the date for its AGM, did not immediately respond to a Reuters request for comment.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Sherry Jacob-Phillips)