Disney asked its shareholders on Thursday evening not to grant American billionaire Nelson Peltz the two seats he is seeking on its board of directors.

The activist investor is seeking the appointment of a new CEO to boost the entertainment group's profitability, which he considers to be far below that of competitors such as Netflix and the sector as a whole.

In a press release issued last night, the Board of Directors recommends that shareholders vote against the appointment of Nelson Peltz, who it says has no media experience and no interesting strategic ideas to offer.

As for Jay Rasulo, the second director proposed by Trian, Nelson Peltz's fund, he left Disney 15 years ago and has never worked in the sector again since, it argues.

In addition to the draft resolution submitted by Peltz, Disney is asking its shareholders to vote against the three candidates proposed by another activist fund, Blackwells Capital.

Disney believes it has implemented the right strategy to generate profitable growth and create shareholder value by making the company more efficient, focusing on its strongest brands and franchises, cutting costs and resuming dividend payments.

The group says it wants to position its streaming business to generate high growth and profitability, revitalize its film division, strengthen the ESPN sports channel and relaunch the theme-park business.

The general meeting of its shareholders will be held on April 3.

About an hour after opening, Disney shares lost 0.7%, while the Dow Jones gave up 0.3%.

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