Disney wins boardroom battle with activist investor

Apr 04, 2024

Lauren Taylor Anchor

By Lauren Taylor (Anchor), Brock Koller (Senior Producer), William Jackson (Producer), Ian Kennedy (Lead Video Editor)

Disney CEO Bob Iger emerged victorious Wednesday, April 3, in a heated boardroom confrontation with activist investor Nelson Peltz. Shareholders sided with Iger, reelecting the company’s full board and rejecting seats for Peltz and his associates.

Iger expressed gratitude to the shareholders for their confidence in the board.

“With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers,” Iger said.

Although unsuccessful, Peltz’s firm, Trian Partners, stated it is proud of the campaign’s role in refocusing Disney’s priorities, highlighting a roughly 50 percent increase in Disney stock over the past six months.

“We are proud of the impact we have had in refocusing this Company on value creation and good governance,” Trian said in a statement.

Shareholders overwhelmingly supported Iger, who received 94% of the votes, while Disney director Maria Elena Lagomasino, challenged by Trian, secured 63%. Peltz garnered 31% of the votes, according to sources.

Tags: Bob Iger, Disney, Disney Plus, Disney World, Disneyland

[LAUREN TAYLOR]

DISNEY CEO BOB IGER PREVAILED WEDNESDAY — IN HIS FIERCE BOARDROOM BATTLE WITH ACTIVIST INVESTOR NELSON PELTZ.

SHAREHOLDERS BACKED IGER – REELECTING THE COMPANY’S FULL BOARD AND DENYING SEATS FOR PELTZ AND HIS ALLIES.

IGER THANKED THE SHAREHOLDERS FOR THEIR TRUST IN THE BOARD — AND SAID NOW WITH THE VOTE BEHIND THEM – DISNEY CAN FOCUS ON “GROWTH AND VALUE CREATION FOR SHAREHOLDERS AND CREATIVE EXCELLENCE FOR CUSTOMERS”

WHILE PETLZ CAME UP ON THE LOSING END – HIS COMPANY – TRIAN “TRY-AN” PARTNERS — SAID IT’S PROUD OF THE IMPACT ITS CAMPAIGN FOR CHANGE HAS HAD ON REFOCUSING DISNEY’S PRIORITIES – NOTING DISNEY STOCK IS UP APPROXIMATELY 50-PERCENT OVER THE LAST SIX MONTHS.