Disney Says Blackwells Capital to Nominate Three People to Board at 2024 Annual Meeting

Walt Disney Co. said Wednesday that Blackwells Capital LLC has informed the company it plans to nominate three individuals for election to Disney’s board at its 2024 annual shareholder meeting.

Disney DIS, -2.68% said that it has an “experienced, diverse, and highly qualified” board as it works on its transformation but that it would evaluate the proposed nominees and offer a recommendation to the board as part of its governance process.

The announcement comes just hours after Disney announced a confidentiality agreement with activist shareholder ValueAct as it works to stave off another activist, Trian Fund Management, which is led by billionaire Nelson Peltz. The deal with ValueAct, an investor in Disney, ensures the investment firm will support Disney’s recommended nominees for election to the Disney board at the annual meeting, expected this spring.