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Disney and CEO Iger Get Backing of Proxy-Advisory Firm Glass Lewis in Battle Over Board
Disney's strategy under CEO Bob Iger got the thumbs-up from independent proxy voting and corporate governance advisory firm Glass Lewis.
Disney ‘s current strategic initiatives under CEO Bob Iger got the thumbs-up from independent proxy voting and corporate governance advisory firm Glass Lewis, amid a campaign launched by two activist investor groups to win seats on the Mouse House’s board. Glass Lewis, in a March 18 report, recommended Disney shareholders vote for the Disney-selected 12 director nominees — and reject those put forward by Nelson Peltz ‘s Trian Partners and another firm, Blackwells Capital — at the company’s annual meeting on April 3. “[W]e consider the subsequent 15 months [since Iger’s return as CEO] have provided management and an incrementally reconstituted board with adequate opportunity to launch a more credible succession program and develop, communicate and execute on several key initiatives which appear to reasonably target acknowledged operational and financial weaknesses at Disney.”
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