Ann: Results of Meeting, page-4

Lower sales, Lower margins, potentially lower market share in the US market, insignificant sales in Australia, potential declining sales at Walmart in the US ,limited or no updates on performance in Canada market , Travel retail , Walmart or new brand Discovery World which probably means that performance is below expectations and profits delivered by cuts of excessive overhead added in 2016 that delivered no results and by cutting advertising begs the question: HOW DO SHAREOWNERS BELIEVE THIS IS SUSTAINABLE? WHY DO THEY KEEP CURRENT MANAGEMENT IN PLACE?