Disney has come out of its proxy fight with activist investors victorious. The entertainment giant, helmed by CEO Bob Iger, said Wednesday afternoon that a preliminary tally showed its 12 board nominees won reelection.That result came at a "substantial margin" over the totals respectively cast for Trian Group and Blackwells Capital, two entities that separately launched proxy fights against Disney, the company said. Trian had put forward Nelson Peltz and former Disney CFO Jay Rasolu as its board nominees, a ...

Disney shareholders have voted to stick with the company's board.It's a victory for CEO Bob Iger against activist investor Nelson Peltz.The vote marks the end of an expensive and brutal proxy battle between the two.  NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept ...

NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- The Trian Group,1 which beneficially owns over $3.5 billion of common stock in The Walt Disney Company (NYSE:DIS), today commented on the preliminary results from Disney's 2024 Annual Meeting of Shareholders, which indicated that Nelson Peltz and Jay Rasulo were not elected to Disney's Board of Directors. Trian issued the following statement on today's results: "While we are disappointed with the outcome of this proxy contest, Trian greatly appreciates all of the ...

Disney has succeeded in barring Nelson Peltz from its board of directors as shareholders at the company’s hotly anticipated annual meeting today have voted for its slate of 12 nominees, fending off outsiders. It was a months-long bitter and costly fight. The numbers are preliminary with official results still to be formally announced. But according to Disney, this was Peltz’ biggest-ever loss in a proxy fight, and he’s engaged in a few. Peltz received less than 31% of the vote. CEO Bob Iger, also on the b ...

Storm clouds are brewing over the Magic Kingdom (Photo by Roberto Machado Noa/LightRocket via Getty ... [+] Images)LightRocket via Getty ImagesIt has emerged that Disney used unconventional financial terminology to calculate its performance in a flattering business presentation designed to convince stockholders to vote in its favor at its annual meeting today.The vote has been driven by Blackwells Capital and Trian Fund Management – two hedge funds which have amassed large stakes in Disney and are seeking b ...

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.On Tuesday, Disney secured enough shareholder votes to defeat a challenge from billionaire investor Nelson Peltz and Blackwells Capital, sources familiar with the matter told Reuters. The sources cautioned that there was a possibility that some shareholders may change their vot ...

The vote at Disney's shareholder meeting matters, but the aftermath is even more important.Wednesday's showdown at Walt Disney (DIS -0.55%) isn't shaping up to be much of a fight. The media giant's current board members continue to garner support from some of its largest shareholders, but leave it the leading entertainment stock to inject some drama before the end credits roll.A New York Times report -- hours before the final votes are tallied -- suggests that the proxy battle has "evolved into a much close ...

Elon Musk on Wednesday advocated for Nelson Peltz in the activist investor’s proxy fight with Disney, saying he "should definitely" get a seat on the entertainment giant’s board. "He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies," Musk said on X. "This would significantly improve Disney’s share price." "His track record is excellent," Musk said in a subsequent post. The entertainment giant's sto ...

ToplineBillionaire activist investor Nelson Peltz’s high-profile proxy battle against Disney will come to a head Wednesday at the company’s annual shareholder meeting, and, though reports suggest Disney likely has the votes to emerge victorious over Peltz, the relative success of his campaign speaks to the long-term headaches felt by Disney investors.Nelson Peltz, left, and Elon Musk appear together in February.FilmMagic Key FactsAfter a short-lived activist campaign from January to February 2023, Peltz off ...

Elon Musk endorsed Nelson Peltz’s bid for a spot on the board of directors of The Walt Disney Company as the Tesla mogul continued his beef with Mouse House boss Bob Iger.Musk, who famously told Iger and other CEOs who stopped advertising on his social media platform X to “go f–k yourself,” said that he would buy shares in Disney if Peltz got his way and shareholders voted to put him and another ally on the company’s board.“Nelson Peltz should definitely be on the Disney board!” Musk wrote on X before dawn ...