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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran is debating what defense and deterrence it has left, says CFR's Michael FromanMichael Froman, Council on Foreign Relations president, joins 'Squawk Box' to discuss the state of the Middle East conflict, news of Iran planning a 'strong and complex' response to Israeli airstrike on October 26th, impact of the 2024 election, and more.
Persons: CFR's Michael Froman Michael Froman Organizations: Iran, Foreign Relations Locations: Iran
Disputes across the country are brewing over the role of local election boards and how much power they have to question – or even throw out – election results. In Georgia, for instance, Trump-backed members of the state election board recently passed controversial rules that could allow local election boards responsible for certifying results to conduct investigations that threaten to delay certification. One of the Georgia rules, the “Reasonable Inquiry Rule,” would allow election officials to conduct a “reasonable inquiry” before certifying election results. The petitioners in the case argue that the rule would give partisan board members a wide ability to cast doubt on, or even reject, election results. In some cases, the threat of legal action has been enough to deter officials from pursuing challenges to the certification process.
Persons: Donald Trump, Kamala Harris, , Ben Berwick, ” “, ” Berwick, , Mike Pence, Robert Froman, Joe Biden, Froman, ” Froman, State Francisco Aguilar, Aguilar, Gideon Cohn, Postar, “ It’s, ” Cohn, Trump, Ronna McDaniel Organizations: CNN, Capitol, Trump, Democratic National Committee, Georgia Democratic Party, Democratic, Democracy, Republicans, Georgia Republicans, Republican National Committee, Republican, Michigan Department of State, Detroit News, ACLU, State, Arizona voters, Institute for Responsive Government, Republican National, Commonwealth and Pennsylvania Department of State Locations: Georgia , Michigan, Nevada, Wisconsin, Georgia, Kalamazoo County , Michigan, Michigan, canvassers, Washoe, Washoe County, Reno, Arizona, Pennsylvania, New Mexico, North Carolina, Michigan’s, Wayne County, Detroit, Otero County , New Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Israel-Hezbollah conflict could turn into a ground war, says CFR's Michael FromanMichael Froman, Council on Foreign Relations president, joins 'Squawk Box' to discuss the state of Middle East conflict, President Biden's calls for a ceasefire in the Israel-Hamas war, whether the Israel-Hezbollah conflict will turn into a ground war, and more.
Persons: CFR's Michael Froman Michael Froman, Biden's Organizations: Foreign Relations Locations: Israel, Middle
The Group of Seven has agreed in principal to provide Ukraine with a $50 billion loan. Profits from Russian frozen funds are to be used as collateral to back the loan. AdvertisementThe Group of Seven has finally moved the dial on a contentious idea to provide funding to Ukraine by using Russian funds. AdvertisementRoughly $322 billion in funds were frozen after Moscow invaded Ukraine and have sat untouched for over two years. That could mean Moscow taps Western funds in the country and punishes any Western companies that have remained in Russia.
Persons: , Putin, we're, Joe Biden, Biden, Michael Froman, Donald Trump, Vladimir Putin, Charles Lichfield, Chatham House's Timothy Ash Organizations: Seven, Service, Kyiv, European Commission, of Foreign, CNBC, Moscow, The, CEPA, Financial Times Locations: Ukraine, headbutting, Moscow, Europe, Kyiv, Russia, France, Germany
CFR's Michael Froman on key takeaways from the G7 summit
  + stars: | 2024-06-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFR's Michael Froman on key takeaways from the G7 summitMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss the key takeaways from this week's G7 meeting.
Persons: Michael Froman, Obama Organizations: Foreign Relations, U.S . Trade
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFR's Michael Froman on the Israel-Hamas war, Biden's Israel policy and state of Russia-Ukraine warMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss the latest developments in the Israel-Hamas war, the deadly Israeli strike on Rafah, President Biden's policy towards Israel, state of the Russia-Ukraine war, and more.
Persons: Michael Froman, Obama, Biden's Organizations: Foreign Relations, U.S . Trade Locations: Israel, Russia, Ukraine, Rafah
The question for some of us is, why some people want to keep working decades beyond retirement age? CNN Opinion editor Stephanie Griffith asked seven people who are past the conventional retirement age why they are still at the job and got as many responses as there were respondents. They continue to work happily and productively, and were happy to explain to us how and why they do it. Over the years I’ve had to adapt frequently to the changing technology, which isn’t always easy for someone my age. That may be the secret of working well past the time society tells us we’re supposed to retire.
Persons: CNN —, Howard Tucker, Tucker, he’ll, ” Tucker, Joe Biden, Donald Trump —, Trump, ageist, Biden, Stephanie Griffith, Vincent, Austin Tucker, I’ve, isn’t, , Taylor Taglianetti, Gayle Fleming, it’s, I’m, , Gayle Fleming Michael Ventura, Biden —, Charles Simon, Ana Marie Forsythe, Alvin, Ana Marie Forsythe Kyle Froman, — Joyce Trisler —, Joyce, She’d, Lester Horton, Alvin Ailey, Ailey, Ailey School Martha Graham, José Limón, Horton, don’t, Marjorie Perces, Cheryl Bell, didn’t, Babette Coffey, you’ve, you’re, David A, I, Pamela S, Donald Trump, Maggie Mulqueen, Alan Steele, Joan Steinau Lester, , Carole Johnson, — I’m, Octogenarians Organizations: CNN, Records, Biden, Vincent Charity Medical Center, Case Western Reserve University, St, AI Society, Computer, MSNBC, Society, Alvin Ailey School, Dance Media, Juilliard, Ailey School, Alvin, Alvin Ailey American Dance, Vassar College, Ailey, Horton Department, The New York Times, CBS, American, French Legion of, Social Security, Twitter Locations: Ohio, St, Cleveland, one’s, Seattle , Washington, Cambridge , Massachusetts, West, Horton, New York City, , Brookline , Mass, drmaggiemulqueen.com
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA's Michael Froman on trade conflict with China: There's a real train wreck coming hereMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss Secretary of State Antony Blinken's trip to China, state of U.S.-China relations, impact of a potential TikTok ban, and more.
Persons: Michael Froman, Obama, Antony Blinken's Organizations: Foreign Relations, U.S . Trade Locations: China, U.S
Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments
Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York
A vote for the Disney's slate of board members will show support for Iger's performance as CEO since he returned to lead the company in November 2022. AdvertisementIt's the culmination of months of tussling between Disney and Peltz, who has been waging war against Disney's board since January last year. "When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership." And proxy advisory firm Institutional Shareholder Service recommended shareholders vote for Peltz, though not Rasulo. Advertisement"We wish the very best to Bob, this management team, and the board," Peltz said on CNBC at the time.
Persons: , Bob Iger, Nelson Peltz's Trian, that's, Peltz, Jay Rasulo —, Maria Elena Lagomasino, Michael Froman, Gen, Alpha, Jason Schloetzer, BlackRock, Rowe Price, Iger, Roy Disney's, Laurene Powell Jobs, George Lucas, Lucas, Bob Iger's, Donald Duck's, Ludwig Von Drake, Schloetzer, Trian, That's, Neuberger Berman, Ike Perlmutter, he'd Organizations: Service, Disney, Nelson Peltz's Trian Partners, Business, Century Fox, Epic Games, Georgetown University's McDonough School of Business, Vanguard, Street Journal, ValueAct Capital, Walt, Star Wars, Lucasfilm, New York Times, California Public Employees, CNBC, Netflix, ABC, ESPN, Marvel, Financial
Nelson Peltz's Trian Fund Management withheld its votes from Walt Disney CEO Bob Iger when voting its shares in the bitter proxy battle the asset management firm is waging against the entertainment giant, according to sources who monitor the situation. However, it is counter to Trian's proxy recommendations, and it doesn't mesh with the public statements Peltz has made about wanting to work together with management if he is elected to the Disney board. In recent weeks, Disney has stepped up its attacks on Trian and Peltz. "Disney is stupid because I'm not trying to fire Bob Iger, I want to help him," Peltz recently told the Financial Times. The Disney board meeting will be held April 3 and Trian could change its vote between now and then.
Persons: Nelson Peltz, Nelson Peltz's, Bob Iger, Peltz, I'm, Trian, Jay Rasulo, Maria Elena Lagomasino, Michael Froman, Ike Perlmutter Organizations: Trian Fund Management, Future Investment Initiative, Summit, Fund Management, Walt Disney, Disney, Financial Times, CNBC, Marvel Entertainment, Peltz Locations: Miami , Florida, Iger, Disney
Inside Startupland's 'Shroom Boom'
  + stars: | 2024-03-13 | by ( Samantha Stokes | ) www.businessinsider.com   time to read: +11 min
This story is available exclusively to Business Insider subscribers. Frohman is part of a small but growing community within the startups industry that is experimenting with small doses of psilocybin to improve focus and productivity. Business Insider spoke with multiple founders and investors who microdosed, but wished to be anonymous. The person declined to share their name for publication, but their identity is known by Business Insider. Vancouver-based Filament Health is working to expand access to natural psychedelics through an extraction and drug-discovery process, while brick-and-mortar shops Shroomyz and Fun Guyz are further fueling the Canadian "'Shroom Boom".
Persons: Scott Frohman, Frohman, hasn't, Microdosing, James Fadiman —, Koel Robinson, Robinson, Richard Laver, Steve Jobs, Peter Grinspon, Grinspon, Peggy Van de Plassche, Van de Plassche, She's, Justin Zhu, I'm, microdosing, they're, It's Organizations: Business, Rocket Beverage Group, Erewhon, Foods, Massachusetts General Hospital, Harvard Medical School, BMO, PsyMed Ventures, Noetic Fund Locations: Florida, San Francisco, Denver, Minneapolis, In Oregon, California , Iowa, Washington State, Vermont, Massachusetts, Vancouver, Palo Santo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's concern China is building significant overcapacity in the auto sector: CFR’s Michael FromanMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss the security risks posed by China, the auto competition between U.S. and China, and more.
Persons: Michael Froman Michael Froman, Obama Organizations: Foreign Relations, U.S . Trade Locations: China
Nelson Peltz, founding partner and CEO of Trian Fund Management, speaks with CNBC's Andrew Ross Sorkin on July 17, 2013 in New York. Are you not entertained, Nelson Peltz? Both Disney's higher profits, and string of content and partnership announcements, appeared to form a direct rebuttal to Peltz's concerns about the company. It was hard to keep up with Disney's announcements this quarter:ESPN finally set a launch date for its direct-to-consumer service: August or fall of 2025. It's only logical that the mountain of announcements came this quarter, given activist pressure from Trian and Blackwells Capital.
Persons: Nelson Peltz, CNBC's Andrew Ross Sorkin, Peltz, Jay Rasulo, Michael Froman, Maria Elena Lagomasino, Bob Iger, CNBC's Julia Boorstin, Iger, Boorstin, Taylor, Trian, Disney Organizations: Trian Fund Management, Disney, CNBC, ESPN, Epic Games, Warner Bros . Discovery, Fox, Blackwells, Disney Board Locations: New York, Trian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina would be very happy if we were more isolationist and dysfunctional politically: Michael FromanMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss the state of U.S-China relations, what to expect from this week's economic meeting, the economic challenges facing both nations, and more.
Persons: Michael Froman Michael Froman, Obama Organizations: China, Foreign Relations, U.S . Trade Locations: U.S, China
Photo: PHIL MCCARTEN/REUTERSWalt Disney recommended shareholders vote for its 12 nominees to the company’s board of directors and said Chief Executive Robert Iger ’s total compensation doubled in fiscal 2023. The company nominated Chairman Mark Parker to the board, as well as Mary Barra , Safra Catz , Amy Chang , Jeremy Darroch , Carolyn Everson, Michael Froman , James Gorman, Robert Iger, Maria Elena Lagomasino , Calvin McDonald , and Derica Rice.
Persons: PHIL MCCARTEN, REUTERS Walt, Robert Iger ’, Mark Parker, Mary Barra, Safra Catz, Amy Chang, Jeremy Darroch, Carolyn Everson, Michael Froman, James Gorman, Robert Iger, Maria Elena Lagomasino, Calvin McDonald, Derica Rice Organizations: REUTERS, REUTERS Walt Disney
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe goal of Biden-Xi meeting is to 'stabilize' relationship going into 2024: CFR's Michael FromanMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to preview President Biden's meeting with Chinese president Xi Jinping, what's at stake for both countries, the state of U.S.-China relations, and more.
Persons: Biden, Michael Froman Michael Froman, Obama, Biden's, Xi Jinping, what's Organizations: Foreign Relations, U.S . Trade Locations: U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden administration trying to get 'concrete things done' with China, says CFR President FromanMichael Froman, Council on Foreign Relations President, joins 'Closing Bell Overtime' to talk current geopolitical headwinds, President Biden's meeting with China and more.
Persons: Froman Michael Froman, Biden's Organizations: CFR, Foreign Relations Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIran doesn't want to see the Middle East conflict come to its territory, says CFR's Michael FromanMichael Froman, Council on Foreign Relations president and former U.S. Trade Representative, joins 'Squawk on the Street' to discuss President Biden's speech on the Israel-Hamas conflict, the United States' exhaustion of continued funding to Ukraine, and what happens next.
Persons: CFR's Michael Froman Michael Froman, Biden's Organizations: Iran, Foreign Relations, U.S . Trade Representative Locations: Israel, United States, Ukraine
U.S. President Joe Biden, Indian Prime Minister Narendra Modi and President of the European Union Ursula von der Leyen attend the G20 summit in New Delhi, India, September 9, 2023. The summit declaration avoided condemning Russia for the war in Ukraine but highlighted the human suffering the conflict had caused and called on all states not to use force to grab territory. A failure to agree on a summit declaration would have signalled that the G20 was split, perhaps irrevocably, between the West on one side and China and Russia on the other, analysts said. Diplomats have said negotiators from India, Indonesia, Brazil and South Africa drove the consensus in the summit document. Despite the lack of concrete progress, Harsh Vardhan Shringla, India's chief G20 coordinator, said the meeting did take the group forward.
Persons: Joe Biden, Narendra Modi, Ursula von der Leyen, Evelyn Hockstein, Michael Froman, Svetlana Lukash, Lukash, Patryk Kugiel, ” Kugiel, Sergei Lavrov, Vladimir Putin, India's, Xi Jinping, Li Qiang, Vardhan, , Michel Rose, Aftab Ahmed, Raju Gopalakrishnan Organizations: Indian, European, REUTERS, Diplomats, African Union, India, Foreign Relations, Shanghai Cooperation Organisation, Russian G20, Polish Institute of International Affairs, Xinhua, Reuters, Thomson Locations: New Delhi, India, DELHI, Ukraine, Russia, York, U.S, China, Beijing, Russian, Warsaw, Delhi, Indonesia, Brazil, South Africa, Germany, Britain
Iger told Chapek that he lived for those "two-shower days," according to people familiar with the conversation. In January 2020, Iger told Chapek the plan was back on. During his 27 years at the company, Chapek had only attended one annual meeting — as a guest in the audience. Bob Iger, Disney CEO, during a CNBC interview, Feb. 9, 2023. WATCH: Disney CEO Bob Iger's exclusive July 2023 CNBC interviewTake the 'A'During Chapek's tenure as CEO, Disney lost more than a quarter of its market value.
Persons: Elham, Bob Iger, Bob Chapek, Iger, wasn't, Chapek, Michael Eisner, , who's, he's, Clint Eastwood, Eastwood, Arthur Bochner, Jackie Hart, Kareem Daniel, Chapek —, Eisner, Michael Ovitz, Ovitz, Bob, Disney's, Kevin Mayer, Mayer, Bryan van der Beek, he'd, Tom Staggs, Staggs, Staggs —, Steve Jobs, cajoled Ike Perlmutter, George Lucas, Rupert Murdoch, Iger's, Susan Arnold, Arnold, Peter Rice, David Paul Morris, Rice, CNBC's Julia Boorstin, Mark Parker, Mary Barra, Michael Froman, Willow, Parker, John Donahoe, Roy Disney, Walt Disney, Stanley Gold, David A, CNBC Eisner, Big Bob, Little Bob, Christine McCarthy, Patrick T, He'd, McCarthy, Iger —, Coronavirus, Gavin Newsom, Michael Kovac, curtly, Nancy Pelosi, Chuck Schumer, Ben Smith, Smith, Disney, Randy Shropshire, Agnes Chu, Ricky Strauss, Chu, Strauss, Kevin Feige, Kathleen Kennedy, Who's, Alan Bergman, Bergman, Bob Kyncl, Daniel —, Iger didn't, Daniel rankled, Daniel, Chapek didn't, James Pitaro, Jesse Grant, CNBC Chapek, Jimmy Pitaro, Zenia Mucha, didn't, Mucha, Barbara Walters, Charles Eshelman, Scarlett Johansson, Scarlett Johansson —, Florence Pugh, Natasha, Yelena, " Johansson, Bryan Lourd, Johansson, Lourd, Steven Spielberg, Al Michaels, David Muir, Robin Roberts, Michael Strahan, Spielberg, Geoff Morrell, Alan Braverman, Alan Horn, Jayne Parker, Bochner, Claire Lee, Paul Richardson, Josh D'Amaro, Ron DeSantis, Morrell, Disney Animation —, George Floyd, Reba Saldanha, Reuters Chapek, DeSantis, Nicholas Maldonado, Octavio Jones, Chapek she'd, we're, " Morrell, CNN's Chris Wallace, Kristina Schake, John Skipper, Daniel steamrolled, Latondra Newton, Newton, Charles Krupa, Pitaro, NBCUniversal's Peacock, Dana Walden, Thomas Murphy, Josh Kushner, Privately, Schake, Barack Obama, Michelle Obama, Michelle Obama's, David Dee Delgado, Kara Swisher, hadn't, Netflix's, overhiring, McCarthy hadn't, Safra Catz, Kareem, DMED, Horacio Gutierrez, Justin Warbrooke, Alexia Quadrani, Bryan Castellani, Michael Buckner, Quadrani, Lindsay Lohan, Winnie, Nelson Peltz, Catz, Donald Trump's, they'd, Walden, Gutierrez, D'Amaro, Rich Polk, Walden he'd, Iger she'd, Mickey Mouse, Mark Rightmire, haven't, Indiana Jones, Halle Bailey, Ariel, Hamilton Faber, Rich Greenfield, Bob Iger's, — Mayer, McCarthy —, doesn't, they'll Organizations: Disney, Marvel, CNBC, Bloomberg, Getty, Walt Disney, Indiana University, Michigan State University, Shanghai Disney, Man, Hong Kong Disneyland, Walt Disney Parks, Resorts, Pixar, Fox, Chapek, Nike, General, Mastercard, Foreign Relations, University of Pennsylvania, Grogan, Disney's, Fallon, ABC, ESPN, ABC News, California Gov, New York Times, Disney confidants, Hollywood, Marvel Studios, Lucasfilm, Walt Disney Television, Walt Disney Studios, Hulu, HBO Max, Walt Disney Company, YouTube, Companies, Netflix, Apple, Disney Media, Entertainment, Stanford, Rights, Junior, petulant, Filmmagic, Brunswick Group, Covid, CAA, onetime Defense Department, Century Fox, Human, Florida Gov, Republican, Disney Animation, Reuters, Human Rights, HRC, Walt Disney World, Employees, American Foundation for Equal Rights, AP, Amazon Prime, Paramount, South Pacific, Capital Cities, Dow Jones, CVS, Kingdom, Variety, Trian Partners, Charter Communications, U.S, Comcast, Charter's, MediaNews, Orange, Allen, Co, Candle Media, Advisors Locations: Burbank , California, Midwestern, Brentwood, Los Angeles, Westlake Village, Iger, Hammond , Indiana, Shanghai, China, Hong, Fox, Willow Bay, Raleigh , North Carolina, Orlando, U.S, Hulu, Iger's Brentwood, coronavirus, Brunswick, Hollywood, Hawaii, Disney's, Marvel's, Anaheim , California, Montana, Florida, Rye , New Hampshire, Chapek, Hong Kong, California, missteps, South, DMED, Burbank, New York, India, Atlantic, Sun Valley , Idaho, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's not in our interest for China to be on its back, says CFR's Michael FromanMichael Froman, Council on Foreign Relations president and former U.S. Trade Representative, joins 'Squawk Box' to discuss Commerce Secretary Raimondo's trip to China, what it means towards stabilizing U.S.-China relations, and more.
Persons: CFR's Michael Froman Michael Froman Organizations: Foreign Relations, U.S . Trade Representative, Commerce Locations: China
Activist investor Nelson Peltz escalated his criticism of the Walt Disney Co.’s board and advocated for the removal of director Michael B.G. Froman , blaming him for backing governance and compensation decisions that Mr. Peltz says have harmed the company. Disney said Thursday that it didn’t support Mr. Peltz or his son, Matthew, named as an alternate nominee for Mr. Peltz, joining its board. “Neither Mr. Peltz nor his son offer skills or experience additive to the Disney board that replace the decadeslong experience of Mr. Froman,” Disney said. Mr. Froman didn’t respond to a request for comment.
REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.
The proxy battle between Disney and activist investment firm Trian Management LP is heating up ahead of the company's annual shareholder meeting. On Thursday, Trian said in a filing that Disney shareholders should vote to remove Michael Froman from the board and replace him with Nelson Peltz. "Trian Group believes Mr. Froman has no experience as a public company director outside of Disney," the firm said in a statement Thursday. "In contrast, Nelson Peltz has served on numerous public company boards over the last several years." Few members of Disney's board have media experience outside of the Mouse House.
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