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In Blow To Disney, Leading Proxy Advisory Firm Backs Nelson Peltz For Board, Cites “Critically Flawed Succession Process”
ISS, the leading proxy advisory service, advised shareholders to vote Trian’s Nelson Peltz to Disney’s board, a blow to the company.
“Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board is properly engaged this time around. Moreover, multi-year concerns surrounding Lagomasino’s role as a compensation committee member strengthen the case that Peltz’s addition, on balance, would appear a net positive,” ISS said. With that in mind, a shareholder representative who is well versed in the imperative to hold management to account would be well positioned to provide the catalyst that this board apparently needs to improve its effectiveness.”
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