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Campaigns / Trian Partners → The Walt Disney Company
Trian Partners vs. The Walt Disney Company

The Walt Disney Company · DIS

5 decks published between 2023-01-12 and 2024-03-29 — 305 pages, 172 analysed slides total.

initial thesis proxy fight

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2023-01-12 initial thesis

    2023 01 Trian Disney TMT Trian Disney Presentation Jan 2023

    35pp · full_deck

    Disney's world-class IP is being squandered by a board that overpaid $52bn for Fox, bungled CEO succession, and is bleeding streaming losses — add Nelson Peltz to restore discipline.

    N 4 V 3 C 3
    ⌂ ” ⚑
  2. 2024-02-01 proxy fight

    p24 1109exhibit2

    2pp · letter

    Disney squandered a winning hand through a weak, unfocused Board; electing Peltz and Rasulo brings the shareholder mindset needed to reverse years of TSR underperformance.

    N 3 V 3 C 3
    ⚑
  3. 2024-03-01 proxy fight

    2024 03 Disney Trian White Paper 2024

    133pp · full_deck

    Disney lost its way under a distracted, unaccountable board; replacing two directors with Peltz and Rasulo restores focus on DTC margins, CEO succession, and capital discipline.

    N 5 V 4 C 4
    ⌂ ◫ ” ⇌ ⚑
  4. 2024-03-01 proxy fight

    2024 03 Trian Disney TMT Trian Disney Presentation Mar 2023

    133pp · full_deck

    Disney's world-class IP is being squandered by a complacent Board: elect Peltz and Rasulo to fix succession, restore Netflix-like DTC margins, and close a 401% TSR peer gap.

    N 5 V 4 C 4
    ⌂ ” ⇌ ⚑
  5. 2024-03-29 proxy fight

    p24 1343exhibit1

    2pp · letter

    Disney has underperformed its peers across every recent time period under the incumbent board; elect Trian's Peltz and Rasulo to restore focus, accountability, and shareholder alignment.