Disney says ISS ‘reached the wrong conclusion’ on adding Peltz to board

The Walt Disney Company commented on a report published by Institutional Shareholder Services, or ISS, in connection with the election of the company’s director nominees at the company’s annual meeting, with Mark Parker, Chairman of The Walt Disney Company Board of Directors, stating in part: “While we’re heartened to see support for Michael Froman and ISS’ recommendation to withhold on dissident directors Jay Rasulo and the Blackwells’ nominees, we strongly believe that ISS reached the wrong conclusion in its recent report when it comes to adding Nelson Peltz to the board. In contrast to Glass Lewis, ISS fails to acknowledge the breadth of perspective and expertise Ms. Lagomasino adds to the Board. The strong recent performance and results overseen by the Disney Board demonstrate our focus on long-term shareholder value creation and succession planning and our commitment to good governance practices.”