02:11 PM EDT, 03/21/2024 (MT Newswires) -- Walt Disney ( DIS ) said Thursday it disagrees with proxy advisory firm Institutional Shareholder Services' recommendation to shareholders to vote for Trian Group's nominee Nelson Peltz to the entertainment company's board.

"We strongly believe that ISS reached the wrong conclusion in its recent report when it comes to adding Nelson Peltz to the board," Disney Chair Mark Parker said in a statement.

Disney ( DIS ) said it welcomed the ISS recommendation to withhold support for Trian's other nominee, Jay Rasulo, and Blackwells Capital's three nominees.

ISS advised Disney ( DIS ) shareholders to withhold support for current director Maria Elena Lagomasino, while recommending support for the remaining management nominees.

"In contrast to Glass Lewis, ISS fails to acknowledge the breadth of perspective and expertise Ms. Lagomasino adds to the Board," Parker said.

Disney ( DIS ) advised its shareholders to vote for only its 12 nominees and withhold votes for the Trian and Blackwells nominees.

Trian and Blackwells did not immediately respond to requests for comment by MT Newswires, while ISS did not comment on Parker's remarks.

Trian said Monday it is seeking to replace two long-serving Disney ( DIS ) directors, Michael Froman and Lagomasino, "whose backgrounds and skills are not, in our view, relevant to Disney's ( DIS ) current challenges or likely to assist in its turnaround."

Disney ( DIS ) shares rose 0.4% in recent Thursday trading.

Price: 116.95, Change: +0.49, Percent Change: +0.42