Disney reached an agreement with Third Point to add the former Meta executive to its board

Disney+ website on a laptop computer in the borough of Brooklyn, New York, USA on Monday, July 18, 2022.

Gabby Jones | Bloomberg | Good pictures

Disney Activist investor Dan Lobbin has reached a deal with Third Point, which includes adding former Meta executive Carolyn Everson to its board of directors. The companies said Friday.

The deal comes weeks after the third point was taken A new role Disney is worth about $1 billion, or 0.4% of the company, and has urged the media giant to divest its sports property, ESPN.

Initially, Loeb said breaking up ESPN would give Disney more flexibility to pursue sports betting and other business ventures. However, after a while Lob Reverse trend.

“We have a strong understanding of @espn’s potential as another vertical and a standalone business for $DIS to reach a global audience to generate advertising and subscriber revenue,” Loeb said in a tweet earlier this month.

Friday, Disney said A public filing, Backed by Third Point, the board will add Everson to its board ahead of its November meeting.

As part of the deal, Third Point agreed to certain standard terms, including not taking more than a 2% stake in Disney and not soliciting proxies or making proposals. According to the filing, the third point also does not involve board appointments.

Everson was there Meta, previously at Facebook, for more than 10 years, where he served as the social media platform’s head of advertising. Although Everson is considered one of the most important women — along with former Facebook COO Sheryl Sandberg — she left the company last summer after Marne Levine was promoted to chief business officer.

Most recently, she did A short time He left after three months as head of grocery delivery service Instacart. At the time, Instagram and Everson told CNBC that the decision to leave was mutual.

This is breaking news. Check back for updates.

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