Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a)
20 Januar 2023 - 05:38PM
Edgar (US Regulatory)
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
the Registrant ¨
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Check the appropriate box:
Preliminary Proxy Statement
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Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material Under Rule 14a-12
The Walt Disney Company
(Name of Registrant as Specified in Its Charter)
Trian Fund Management, L.P.
Trian Fund Management GP, LLC
Trian Partners, L.P.
Trian Partners Parallel Fund I, L.P.
Trian Partners Master Fund, L.P.
Trian Partners Fund (Sub)-G, L.P.
Trian Partners Strategic Investment Fund-A, L.P.
Trian Partners Strategic Investment Fund-N, L.P.
Trian Partners Strategic Fund-G II, L.P.
Trian Partners Strategic Fund-G III, L.P.
Trian Partners Strategic Fund-K, L.P.
Trian Partners Co-Investment Opportunities Fund, Ltd.
Peter W. May
Edward P. Garden
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The following Twitter post (the “Tweet”) was published, as a post
and via hyperlink, to Trian Fund Management, L.P.’s (“Trian”)
Twitter page relating to The Walt Disney Company; from time to time
Trian or its fellow participants in the proxy solicitation may
publish the Tweet to its LinkedIn, Facebook, Instagram and YouTube
pages and various other social media channels relating to The Walt
Disney Company, as well as to its website,
Brian Sozzi: Last time I talked to you, maybe two and a
half, three months ago, you seem to have embraced your new activist
investor and board member Nelson Peltz. Said he’s doing and he has
good ideas to help turn this company around and drive better
results. Now, since then, Nelson has taken a campaign against
Disney and they do not have that view or that same approach. As
someone that has dealt with Nelson, why are you embracing him, and
a company like that may not?
Alan Jope: Nelson Peltz has joined our board and brought all
kinds of good ideas. His view on what the company needs us to do is
very aligned with the agenda that we’re working on. A big part of
our agenda last year was to simplify our organization. That was
something he felt needed to happen. And somebody who has got a
strong track record in the CPG industry we thought would make a
good board member for Unilever. I can’t obviously comment on other
Brian Sozzi: Does he unlock value in those meetings? What’s
his thought processes?
shouldn’t call in too much on one particular board member, but we
expect all of our board members to make contributions that help
guide the company and steer us in the right direction. Nelson’s an
experienced board member who is very focused on performance and on
setting up the company for the future.
Brian Sozzi: You’re also fresh off a key investor day, too.
Really interesting slide deck, it does seem like you are driving a
reimagination of Unilever. Where are you at in the process?
Alan Jope: So over the last five years, we’ve really been
working on four things. First, making sure our executional muscle
is in good shape. Secondly, continuing to evolve with portfolio,
exiting spreads exiting T. Building up a business in luxury beauty
and health and well-being has been important part of our growth
agenda. Third, just to make sure everyone understands our strategic
choices, what markets matter, what categories do we care about,
what channels are we building. And then the fourth part of
reinventing Unilever has been a very successful organization change
from a complex matrix to five business groups with full
accountability and extreme simplicity, so I only have now five I
can either say throats to choke or backs to pat.
Brian Sozzi: Before—you’re supposed to be retiring at some
point this year, what’s next for you?
Alan Jope: Well, at the moment, I’m 100% focused on
Unilever, making sure we keep cranking it, quarter after quarter.
That’s my job. I have very, very many interests outside my business
work, and it’ll create some time to explore. There’ll be a bit of
travel. I’ll get the chance to finish our around-the -world
motorcycle trip for a start. That’s a work in progress.
Brian Sozzi: Oh jeez well stay safe and wear a jacket too.
Unilever CEO Alan Jope. Good to see you again. Enjoy the rest of
Alan Jope: You bet.
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