Disney holder Blackwells files preliminary proxy for board nominations –
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Activist fund Blackwells Capital filed a preliminary proxy statement for three candidates for the Walt Disney (NYSE:DIS) board last week.
Blackwells earlier this month said it planned to nominate Jessica Schell, Craig Hatkoff, and Leah Soliva to the Disney (DIS) board.
The Blackwells’ nominations come after billionaire activist investor Nelson Peltz last week officially launched a proxy fight with the entertainment giant, with Peltz and former Disney CFO Jay Rasulo as its nominees.
“The Disney Board should promptly meet with the Blackwells nominees in order to promote the free-flowing exchange of ideas that comes with constructive collaboration,” Jason Aintabi, Chief Investment Officer of Blackwells, said in a statement on Monday.
Last week Disney (DIS) nominated 12 directors for election at upcoming annual meeting. The board didn’t endorse the nominations of Peltz and James Rasulo put forth by Trian Fund Management. The Disney board also didn’t endorse the nominations of Blackwells Capital.
Blackwells Capital, which said it has owned the stock since 2018, came against Trian’s proxy fight in late November. A separate activist investor, Ancora, has gone on record that Disney (DIS) should add Peltz to its board.
In November, Disney appointed former Morgan Stanley Chief Executive James Gorman to its board of directors, effective in February.
