Disney has just settled a proxy battle against individuals trying to secure a seat on the board of directors for Disney. The dispute was settled in favor of Disney’s CEO, Bob Iger.
Iger has been the CEO of Disney since 2020, and even served as CEO before that, from 2005 to 2020.
Put forward by investing company Trian, Nelson Peltz was put up for consideration for a position on the board of directors, with Trian and another investor, Blackwells Capital, looking to grow the profit for Disney in many ways, including the box office.
Peltz’s attempt was supported by a vote roughly one-third in his favor, CNN was told by a source who knew the vote. The source also stated that this is the largest loss that Peltz has faced in a dispute of this kind.
Following the vote in favor of Iger, he said, “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.”
CNN also reported that, while the retail shareholders had voted around 75% in favor of Disney, the vote for those already on the board is, more often than not, higher than that total.
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