Hedge fund investors who sought seats on Disney’s board have been defeated.
Disney secured enough votes from shareholders at its annual meeting on Wednesday to win a high-profile board fight against 81-year-old billionaire Nelson Peltz, founder and CEO of Trian Fund Management, and Jay Rasulo, the former chief financial officer of Disney.
Disney’s 12 recommended nominees were elected by shareholders “by a substantial margin” over Trian and Blackwells’ 5 combined nominees, Horacio Gutierrez, senior executive vice president of Disney, announced at the shareholder meeting at around 10:22 a.m. Pacific Standard Time.
Bob Iger, CEO of Disney, on February 12, 2024. (Photo by JC Olivera/Getty Images)
Disney CEO Bob Iger called the matter
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