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  "documentTitle": "Trian Partners | Activist Presentation Deck | 133 slides",
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  "notes": "Uses a list of 'X' marked points to contrast consulting vs. board roles, followed by two side-by-side quotes to imply a conflict of interest.",
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      "text": "Management generally decides what information to share; Consultants provide advice typically within a framework established by the principal; Consultants do NOT provide independent oversight; Consultants do NOT provide accountability; Consultants CANNOT vote",
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      "text": "20 days after Trian nominated candidates for Board representation, Disney entered into an “information-sharing arrangement” with ValueAct, another Disney shareholder, to enable it to consult with Disney’s Board and management.",
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      "text": "I have known Bob Iger since the time of our Fox investment... I have used him as a sounding board for our investments...",
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      "text": "Board’s Agreement with ValueAct Capital Is Not a Substitute for Shareholder Representation Inside the Boardroom",
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