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Proxy-Advisory Firm ISS Recommends Disney Shareholders Elect Nelson Peltz to Board
Disney was handed a setback in its boardroom fight with Nelson Peltz after proxy-advisory firm ISS recommended shareholders elect him to the board.
ISS, whose recommendations are influential among institutional investors, cited Disney’s “failed” succession planning in the CEO role for backing Peltz. “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,” ISS said in the report Thursday. Heinz and Procter & Gamble, where Trian joined the board following a proxy contest, as well as Janus Henderson, Legg Mason, Mondelēz, Sysco, and Wendy’s.
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