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Disney shareholders back CEO Robert Iger, rebuff activists who sought to shake up company

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Disney shareholders have rallied behind longtime CEO Robert Iger, voting Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney Chief Financial Officer Jay Rasulo, who had sought seats on the company's board.

Disney chief executive Bob Iger arrives at the 96th Academy Awards Oscar nominees luncheon on Feb. 12, 2024, in Beverly Hills, Calif. During the company’s annual shareholder meeting Wednesday, April 3, 2024, investors will decide whether to back Iger, or …The company had recommended a slate of directors that did not include Peltz or Rasulo.

The dissident shareholders had said in a preliminary proxy filing that they wanted to complete a “successful CEO transition” atand align management pay with performance. Despite their loss, they declared a victory of sorts following the vote, noting that since Peltz’s company, Trian Partners, started pushingin late 2023, the entertainment giant has engaged in a flurry of activity, adding new directors and announcing new operating initiatives and capital improvement plans for its theme parks.

 

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