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Disney Shareholders Officially Reject Nelson Peltz’s Board Bid in Big Win for CEO Bob Iger
Disney shareholders have officially shot down activist investor Nelson Peltz's campaign to win a seat on the board of directors.
We are fortunate to have a highly qualified board of directors who possess a profound commitment to the enduring strength of this company and an enormous amount of experience and expertise, including succession planning.” For the 2023 year-end quarter, Disney showed improvements in cost containment, while investors also appeared to rally around new strategic initiatives like the company’s investment in Epic Games and Iger’s announcement that the stand-alone streaming version of ESPN in set to launch in 2025. Disney disclosed that it expected costs for the board battle to be in around $40 million, given its get-out-the-vote effort to sway individual investors (who hold more than one-third of the company’s shares).
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