Disney's leadership prevailed Wednesday in a high-profile and costly proxy contest against activist investors who had sought to shake up the company's board over concerns about successorship planning.Led by billionaire investor Nelson Peltz, Trian had blasted the Disney board over botched leadership planning after Iger, who stepped down as CEO in 2020, was reinstated following his successor's firing in November 2022.
A multimillion-dollar, mud-slinging battle over Walt Disney's future will officially end on Wednesday when the company is expected to announce that shareholders rejected two hedge fund bids to shake up the entertainment giant's board.
Disney Wins Proxy Fight, Turning Back Activists ibtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com Daily Mail and Mail on Sunday newspapers.
Walt Disney shareholders backed Chief Executive Bob Iger and other company directors on Wednesday, defeating a campaign by activist investors who argued the storied entertainment giant had underperformed in the streaming-television era.