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  "documentTitle": "The Walt Disney Company (DIS)",
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  "notes": "The diagram illustrates the three core functions of the proposed committee: investor sentiment, strategic reviews, and oversight of execution.",
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      "text": "We recommend the establishment of a Finance & Strategy Committee of the Board (that includes Nelson and/or Jay) to create a dedicated subset of Directors focused on long-term strategy and the key strategic questions facing Disney, including those we have highlighted",
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      "text": "Semicircle diagram showing three pillars: Keep a Pulse on Investor Sentiment, Work With Management to Oversee Critical Strategic Reviews Recommended by Trian, Oversee Strategic Plans Disney Executes",
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      "text": "Having a subset of Directors focused on overseeing strategy would, in our view, help ensure robust discussion and debate, consideration of varying perspectives, and Board engagement, which we believe would lead to better decision-making, further alignment with shareholder interests and crisper communication to the market",
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      "text": "One of our concerns – corroborated by conversations with other investors – is that Disney is simply being reactionary to changes in the marketplace rather than managing the business toward a long-term strategy.",
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      "text": "Form a Board-Level Finance & Strategy Committee",
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