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Pension Fund CalPERS Votes for Nelson Peltz and Jay Rasulo in Disney Board Battle: Report
Influential pension fund CalPERS has voted to shakeup Disney by electing actvist investors Nelson Peltz and Jay Rasulo to its board.
The California Public Employees Retirement System told Reuters that the fund had cast its vote for Trian Partners’ Peltz and Rasulo as alternative directors to join the Disney board,. “CalPERS believes Walt Disney Co will benefit from fresh eyes on its board of directors and voted its company shares in favor of candidates Nelson Peltz and Jay Rasulo,” a spokesthe U.S. pension fund, which owned 6.65 million shares in the entertainment giant at the end of December, told Reuters. Peltz, a longtime activist investor, has been publicly critical of Disney on and off for more than a year given the company’s struggling stock price and steep losses racked up by its fledgling streaming operations.
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