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Disney Fends Off Nelson Peltz After Bitter Proxy Fight As Shareholders Back Company Board
The tally is in and Disney has fended off Nelson Peltz as shareholder voted to install the company's board nominees, not the activist investor.
With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers,” said CEO Bob Iger. Voting closed last night and the result, following a bitter and expensive proxy, is certainly a major relief to Disney and CEO Bob Iger, who have insisted for months that Peltz brought nothing new to the table strategically and would just be a distraction for management at complex time in the media and entertainment industry and, a delicate moment for the company, which is in the midst of a turnaround. The company said the alliance was a conflict of interest since the businessman who sold Marvel to Disney had clashed with Iger and was fired.
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