Disney Wins Proxy Battle Against Activist Investors Seeking Board Seats
Published: 03 April 2024 at 19:04
Business
Disney successfully fought off activist investors represented by Trian Fund Management and Blackwells Capital in a shareholder vote, with CEO Bob Iger securing a significant victory. The investors aimed for higher returns and structural changes within the company, but their proposals were rejected. Despite Disney's stock rising, the push for more aggressive changes was not supported by shareholders. Trian's Nelson Peltz, a key figure in the battle, faced a resounding defeat with less than one-third of the vote in his favor. The outcome led to disappointment for Trian, emphasizing their focus on value creation and good governance.
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