The Walt Disney Board Must Be Panicking. They Just Released Ludwig Von Drake Animated Video Telling People How to Vote.
Published: February 6, 2024
In the most recent twist to the Walt Disney World board proxy war against activist investor groups Trian Partners (Nelson Peltz/Jay Rasulo) and Blackwell Capital (Jessica Schell, Craig Hatkoff, and Leah Solivan) Disney has reached into their edutainment past and pulled out an animated video featuring reused clips of Ludwig Von Drake to explain to shareholders why they should vote to keep the current board in place.
Ludwig Von Drake, the character they used to explain things like mathematics to children, is heavily featured in the video that is made up of Disney IP clips, including the White Rabbit (white) from “Alice in Wonderland,” the Muses from “Hercules,” townspeople from “Sleeping Beauty” and more, explaining how to vote to shareholders.
Take a look at the video!
The video comes with a bunch of graphics telling people how to vote for them and not to vote for Trian (Blue Card) or Blackwell (Green Card.)
Throughout the video and the article, Disney repeatedly stresses voting with the white card to keep the status quo and stresses that even if you already voted with green or blue cards you can undo your vote by revoting with their white card. Of course, this would imply the same can be done if you already voted white and wanted to change it as well.
They even tell people to tear up their blue and green cards.
Voting can be done via the mail or online. But your vote must arrive by 11:59 PM EST on April 2, 2024. I’m sure we will hear more about voting for the current board on February 7 during 2023-2024 Q1 earnings report call.
Here is a look at the informational graphics they put in their press release.
What concerns me is how Disney presents the following information, which could be interpreted to mean that only those using their white card numbers can attend the meeting. This could confuse people and make them inadvertently vote with their white card, thinking it is the only way to attend.
“In order to attend the virtual meeting on April 3, 2024, you must register in advance no later than April 2, 2024 at 10:00 A.M. Pacific Time by visiting www.ProxyVote.com/Disney and selecting “Attend a Meeting.” You will need the 16-digit control number included on your notice, WHITE voting instruction form or WHITE proxy card.”
It seems like the current Walt Disney Company board is freaking out because they are throwing together a video to try and use nostalgia and beloved IP to saw votes as well as writing some things in a way that could be confusing to shareholders.
The video just seemed tacky and fear-motivated. As a shareholder, this did not help instill confidence. But that’s just me.
What do you think? Comment and let us know!