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Disney Shareholders Back Iger in Proxy Vote Over Dissident Investor
Posted
April 3, 2024
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0:51Now PlayingWalt Disney Co. shareholders handed Chief Executive Officer Bob Iger a big vote of confidence, rejecting dissident investor Nelson Peltz’s bid for a board seat at the giant entertainment company.
Shareholders elected all of Disney’s choices for the board, turning aside the nomination of Peltz, executives announced Wednesday at the company’s annual meeting. Investors also rejected Peltz’s ally, former Disney finance chief Jay Rasulo, and a slate from Blackwells Capital LLC, another dissident group.
The result is a clear-cut victory for Iger, 73, who has fought to keep Peltz off the board since returning as CEO in November 2022. In recent months, Iger has sought to address investor concerns by settling a political dispute with Florida, bringing on new directors to oversee succession and promising a profit soon from the company’s streaming business.
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