Definitive Additional Materials

UNITED STATES

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SCHEDULE 14A

 

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The Walt Disney Company

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On March 7, 2012, John Pepper, the Chairman of The Walt Disney Company, issued the following statement:

Of the top 100 S&P companies, 68% have a joint CEO and Chair, and combining the positions was an integral part of a thoughtful and carefully considered succession and management transition plan. The Walt Disney Company Board of Directors strongly disagrees with Ms. Nappier’s position which utterly disregards both the Company’s record of financial performance and that nine out of the ten directors will be independent, including an independent lead director with duties and responsibilities that exceed in scope those recommended by governance advisors.