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Friday, Apr 19, 2024

Loeb-Disney Conflict Eases as Tech Executive Joins Disney Board

Carolyn Everson, who co-founded Pets.com and helped construct Facebook’s advertising business, has been named to the board of The Walt Disney Co. Officials at the Burbank-based company said Everson’s appointment had been approved by Daniel Loeb’s Third Point LLC hedge fund.

Disney officials said on Friday that Third Point had signed off on Everson’s appointment to the board. The fund also agreed to buy no more than 2% of outstanding Disney shares, among other provisions.

Loeb had been lobbying for Disney to spin off ESPN, but softened his stance earlier this month.

James Brock
James Brock
James Brock has worked in newsrooms around the world, including in New York, Paris, Abu Dhabi, Dubai, Houston, and Los Angeles. He began his career with a Newhouse News daily, where he served on the news desk and the editorial page. He was the copy chief for The New York Sun, and founded and edited the personal finance section for Abu Dhabi-based The National, among other positions. He has interviewed Anthony Bourdain, Tom Ford, Mark Cuban, and many other individuals, and has written and edited thousands of stories and articles.

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