Blackwells Capital Calls on Trian to End its Misguided and “Ego-Driven” Campaign to Seek Board Representation at Disney

NEW YORK, Nov. 30, 2023 (GLOBE NEWSWIRE) — Blackwells Capital LLC, a shareholder of The Walt Disney Company (“Disney” or the “Company”) (NYSE:DIS) since 2018, today issued its support for the ongoing transformative restructuring led by the Company’s CEO Bob Iger, and stewarded by an enviable Board of Directors recently enhanced through the appointments of James P. Gorman and Sir Jeremy Darroch. Displacing these individuals or other members of the Board with Mr. Peltz and other Trian selected nominees would deprive shareholders of valuable, experienced voices in the boardroom at a critical time in the Company’s history.

Blackwells is concerned that Trian’s campaign prioritizes Mr. Peltz’s ego over what is best for all Disney shareholders, and that its latest effort may cost Disney shareholders upwards of $50 million and serve only as a value destructive fog for Disney’s leadership and Board.