Last week, Zoë laid out the details of Nelson Peltz’s proxy battle with Disney as he’s vying for a seat on the company’s board of directors. If you missed the article, head here to get caught up on the who, what, and why of Peltz and his investment management company, Trian Fund Management.

As we expected, Disney has a new SEC filing this morning that VERY clearly states why they believe that Peltz does not deserve the seat on the board he so strongly desires.

In the presentation, Disney listed out claims that Peltz has made versus what they believe to be true.

Disney also laid out some important points regarding their earnings (EBITDA: Earnings before interest, taxes, depreciation, and amortization) in addition to what they feel Trian is missing with regards to items that were directly related to the COVID-19 pandemic.

The key strategic changes that Disney is focusing on in all aspects of their business are also included in the presentation. For theme parks specifically, the focus remains on “improving the guest experience by providing more value and flexibility.”

To be sure that communication has remained open, the filing states that “Disney’s board and management have maintained an open dialogue and have had no less than 16 meaningful interactions with Trian since July 2022” and details the timeline of said communication.

The bottom line is that if Peltz receives enough votes from shareholders at the annual meeting, he’ll be on the board, but Disney is doing their best to discredit him before he gets that far.

The post Disney Claps Back With New SEC Filing Re: Nelson Peltz’s Wish for a Seat on the Board first appeared on DIS.