The Walt Disney Company
Disney Board Director Safra A. Catz Resigns
Summary
On July 18, 2024, Safra A. Catz, Chief Executive Officer of Oracle Corp. and a director on The Walt Disney Company's Board of Directors, announced her resignation, effective immediately. The departure of Catz led to the reduction of the Board size from 12 to 11 directors. A press release detailing Catz's resignation and the company's response is attached as Exhibit 99.1.
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About The Walt Disney Company
The Walt Disney Company, commonly known as Disney, is a highly influential media and entertainment conglomerate headquartered in Burbank, California. Renowned for its broad portfolio, Disney's primary function is delivering world-class entertainment and media experiences through its diverse segments. These include Media Networks like ABC and ESPN, Parks, Experiences and Products such as Disneyland and Walt Disney World resorts, and Studio Entertainment responsible for creating beloved films under iconic banners like Disney, Pixar, Marvel, and Lucasfilm. Additionally, the company has expanded its digital presence with its streaming service, Disney+, capturing audiences worldwide with a mix of classic and original content. Disney plays a pivotal role in shaping global pop culture and entertainment, leveraging its vast intellectual property library for films, merchandise, and theme park attractions. Its strategic acquisitions, like those of 21st Century Fox and Marvel Studios, have fortified Disney's position in the market, enhancing its storytelling potential and cross-platform synergies. As a bellwether in the entertainment industry, Disney's actions and innovations are closely watched, impacting sectors such as film production, broadcast media, and leisure travel.
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