The battle between entertainment giant Disney (NYSE:DIS) and activist investors regarding the restructuring of its Board continues. In a recent development, Blackwells Capital, an activist hedge fund and DIS shareholder, has submitted an initial proxy statement with the SEC, seeking endorsement for its three proposed candidates to join Disney’s Board of Directors.
Blackwells emphasized that its nominees would significantly contribute to the Board’s improvement and support Disney’s ongoing transformation efforts. Further, Jason Aintabi, Blackwells’ Chief Investment Officer (CIO), expressed disappointment over Disney’s decision to engage in an information-sharing agreement with ValueAct, another activist investor. Aintabi insisted that Disney should disclose all information shared with ValueAct to other shareholders.
This comes after activist investor Nelson Peltz officially launched a proxy fight against Disney last…
