What's happened
Disney CEO Bob Iger has emerged victorious in a battle against activist investor Nelson Peltz, as shareholders vote to retain Iger and Disney management's board. Peltz's campaign to overhaul Disney's management has been defeated, marking the end of a proxy fight that has lasted over a year.
Why it matters
The outcome of this battle between Bob Iger and Nelson Peltz is crucial for the future direction of Disney. Shareholders' support for Iger's leadership signifies confidence in his ability to navigate the company through challenges and drive growth. The defeat of Peltz's campaign highlights the resilience of Disney's current management and strategy.
What the papers say
The Guardian reports that Disney is expected to win the boardroom showdown, with enough votes secured to defeat Nelson Peltz's campaign. Business Insider UK provides insights into the battle between Iger and Peltz, highlighting the key issues at stake and the contrasting strategies proposed by the two sides.
How we got here
The proxy fight between Bob Iger and Nelson Peltz has been ongoing for more than a year, with Peltz criticizing Disney's performance and advocating for changes in management. Iger's return to lead Disney in 2022 amid concerns over the company's direction set the stage for this high-stakes battle for control.
Common question
More on these topics
-
The Walt Disney Company, commonly known as Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.
-
Nelson Peltz is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management, an alternative investment management fund based in New York.