Meet Candidate Nelson Peltz | #RestoreTheMagic at Disney

Meet Board Candidate
Nelson Peltz

Nelson Peltz is CEO and a Founding Partner of Trian

Nelson has been the Chief Executive Officer and a Founding Partner of Trian Fund Management, L.P. (“Trian”) since November 2005. Since that time, Nelson has been recognized as among the most influential people in the global corporate governance arena.1

Nelson has more than 40 years of business and investment experience, including extensive public company board experience, where he has served on the boards of 11 of the companies that Trian has invested in since 2005. 2 Throughout his professional career, he has developed expertise working with management teams and boards. As a public company director, he has a long track record of helping to facilitate bold action to drive operational turnarounds, transformations, effective leadership succession and executive pay processes, resulting in value creation across numerous industries.3

Trian has made dozens of investments since inception and has been involved in proxy contests with three other companies: Heinz in 2006, DuPont in 2015, and P&G in 2017. Following these proxy contests, Nelson served on the Heinz Board from September 2006 to June 2013 and the P&G Board from March 2018 to October 2021. In addition, Nelson and Trian worked successfully with DuPont’s CEO Ed Breen who was appointed as CEO following the proxy contest with Trian.

In all three proxy contests, we heard similar rhetoric to that which Disney and its advisors are using today to oppose Nelson’s election to the Disney Board. However, each company’s board and management changed their assessments of Trian and Nelson after the proxy contests, when we began to work with them to enhance shareholder value. See below.

Sources 1, 2, and 3

Boards that Nelson Currently Serves On and Has Served On

“In the past, I think that Nelson Peltz has done a good job in general on boards that he joins. So, I think avoid the fight. They got other things to worry about.”

Karen FinermanFast Money; November 7, 2023

“[Nelson Peltz] should get a seat. And [Bob Iger] would be smart to [add him to the Disney board].”

Scott GallowayPivot Podcast: Israel-Hamas War, Search for a Speaker, and Guest Esther Peres; October 13, 2023

“Nelson Peltz of course is coming with Jay Rasulo, who was a potential CEO of Disney, ran the Parks and was the CFO, so he is obviously well qualified.”

Jessica Reif EhrlichBofA Securities; December 15, 2023

Source 1: The National Association of Corporate Directors (NACD) named Mr. Peltz among the most influential people in the global corporate governance arena in 2010, 2011 and 2012.

Source 2: The Wendy’s Company, The H. J. Heinz Company, Sysco Corporation, Legg Mason Inc. (on two separate occasions), Mondelēz International, Inc., The Procter & Gamble Company, Ingersoll Rand Inc., Invesco Ltd., Janus Henderson Group plc and Unilever PLC. In addition, Mr. Peltz has served as a director of Madison Square Garden Sports Corp. (formerly The Madison Square Garden Company) (NYSE: MSGS), a live entertainment company, since September 2015.

Source 3: For instance, at The Procter & Gamble Company (“P&G”), a household products company where Mr. Peltz served on the board of directors from 2018 until 2022, he helped P&G develop and oversee a “Four-Year Overhaul” that resulted in P&G “making several dramatic changes to help improve performance” and “streamlin[ing] its operations from 10 business units to six, improv[ing] its earnings growth, clear[ing] out bureaucracy and increas[ing] accountability.” (Source: Article titled “Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul,” published August 5, 2021 by Bloomberg.) At Mondēlez International, an international snack company, during Mr. Peltz’s tenure on the board of directors from 2014 to 2018, the company improved its cash flow generation through margin improvement and development of working capital efficiencies. (Source: SEC filings. In 2014, operating income margins were 11.7% and improved to 16.7% in 2018. Cash flow from operations were $3.56 billion in 2014 and improved to $3.95 billion in 2018.)

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