BURBANK, Calif., September 30, 2022 – The Walt Disney Company (NYSE: DIS) today announced that Carolyn Everson, a veteran media and technology executive, will join its Board of Directors, effective November 21. Ms. Everson, 50, a well-respected executive with deep experience in consumer-facing companies, will be included in the Company’s slate of director nominees in the proxy statement for Disney’s 2023 Annual Meeting of Shareholders.
Ms. Everson’s selection follows a lengthy and comprehensive search, and reinforces Disney’s commitment to a strong, independent board focused on the long-term performance of the Company. Her appointment has received the support of Third Point LLC, which has entered into a support agreement with Disney following a constructive dialogue.
As part of the agreement, Third Point has agreed to customary standstill, voting and other provisions through Disney’s 2024 Annual Meeting of Shareholders. The full agreement between The Walt Disney Company and Third Point LLC will be filed on Form 8-K with the Securities and Exchange Commission.
“We are thrilled to welcome Carolyn Everson to the Disney Board,” said Susan Arnold, Chairman of the Board, The Walt Disney Company. “Carolyn’s extensive background, including roles at a number of high-profile, complex global companies, brings a welcome and invaluable perspective as we continue to focus on expanding our brand and global reach.”
“With nearly three decades of experience in senior operating roles at dynamic consumer-facing organizations, Carolyn is a well-respected leader who will bring unique and valuable perspective to our Board,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “Carolyn has had a hand in building a number of world-class digital advertising businesses, and her insights make her a great fit as we continue to position the company for long-term growth.”
Mr. Chapek added, “We have a productive and collegial relationship with Third Point, with whom we share a deep commitment to continue building on Disney’s many successes and increasing shareholder value.”
“We are pleased with our productive and ongoing dialogue with Bob and Disney’s management team,” said Daniel S. Loeb, Chief Executive Officer and Chief Investment Officer, Third Point. “The expansion of Disney’s Board of Directors to include Carolyn Everson will add an important new perspective to an already accomplished group.”
“I am incredibly excited and honored to join The Walt Disney Company’s Board and work alongside the outstanding directors and extraordinarily talented management team,” said Ms. Everson. “Disney is a beloved brand with an incredible history that brings joy to millions of consumers around the world and one that has meant so much to me and my family over the years. I am fully committed to helping progress Disney’s strategic priorities at an exciting time for the business and industry at large.”
The Walt Disney Company has a history of delivering significant results powered by world-class storytelling and its unique and highly valuable content-creation and distribution ecosystem. The Company has deftly navigated the COVID-19 pandemic and its aftermath, having delivered significant streaming subscription growth and outstanding performance at its domestic theme parks and resorts.
Disney’s independent and experienced Board, which will have 12 members, has benefited from continuous refreshment, and has significant expertise in branded, consumer-facing and technology businesses as well as talent-driven enterprises.
J.P. Morgan Securities LLC served as Disney’s financial advisor and Cravath, Swaine & Moore LLP served as Disney’s legal advisor with respect to the support agreement.