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Disney Said To Be Edging Past Nelson Peltz In Proxy Fight Ahead Of Annual Meeting
Disney may be edging past Nelson Peltz in a proxy fight as more shareholders support the company's board nominees ahead of the annual meeting.
The news, first reported in the Wall Street Journal, followed T. Rowe Price, an 0.5% owner, coming out in support of CEO Bob Iger and Disney as shareholders head into the last day of voting ahead of the annual meeting set for Wednesday at 10 am ET/1 am PT. The board has over the past three months been the focus of the most expensive proxy fight on record pitting directors and CEO Bob Iger against Peltz, the billionaire activist investor who has pounded Disney on strategy, stock price and, mainly, poor succession planning. A much smaller advisor, Egan-Jones, recommended votes for both Trian nominess, as did investors Neuberger Berman and CalPERS (California Public Retirement Systems).
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