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  "documentTitle": "Disney | Shareholder Engagement Presentation Deck | 66 slides",
  "authorId": "disney",
  "authorName": "The Walt Disney Company",
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  "presentationDate": "2024-03-01 00:00:00",
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  "notes": "Includes a quote preempting activist criticism by suggesting management was already executing on cost cuts.",
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      "kind": "callout",
      "text": "Helping Iger now is a new CFO, Hugh Johnston. During his 13 years at PepsiCo, Johnston showed an ability to cut costs at a sprawling business ...",
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      "text": "TOTAL ANNUALIZED COST SAVINGS ($BN)",
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      "text": "We continue to seek additional efficiencies without compromising our commitment to quality, growth, and value creation. Within three months of Iger's return, we announced a $5.5bn cost reduction program. We now expect to reduce costs by at least ~$7.5bn.",
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      "kind": "quote",
      "text": "When ...[Nelson Peltz] first appeared last year, he said he wanted Disney to cut costs aggressively... except that Iger, by all accounts, was already doing exactly that...",
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      "kind": "source-note",
      "text": "Source: Company data; Puck, The Villain of the Year is... The Three-Headed Monster Tormenting Disney, 01/03/24; New York Times, A Big Day for the House of Mouse, 11/06/23",
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      "text": "Disney is rationalizing costs and driving operating leverage",
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