The Walt Disney Company has secured enough shareholder votes to win against their rivals Trian Fund Management and Blackwells Capital, according to Reuters.
UPDATE – 10:30 a.m. PT:
- As noted during Disney’s 2024 Meeting of the Shareholders, all 12 of Disney's board members have been reelected (per the preliminary results) with the Trian Group and Blackwells Capital nominees being rejected.
Previously – 6:48 a.m. PT:
- The Walt Disney Company has reportedly secured enough votes against their challenger, Nelson Peltz's fund Trian Fund Management.
- On Tuesday evening, there had been enough votes cast to put Disney's board directors far ahead of Trian's two challengers, Peltz himself alongside former Disney exec Jay Rasulo.
- Blackwells Capital had also nominated three board director candidates but was also unsuccessful.
- Like with the last time Peltz challenged the company (in a campaign that was abandoned before going to a vote), Trian might still be able to financially benefit from their efforts since Disney shares have gained around 50% since October.
- Trian and Blackwells both claimed there needed to be new voices in the boardroom, saying Disney “lost its creative spark and failed to properly harness new technology.”
- As a reminder, Bob Iger returned to the Walt Disney Company in 2022 after coming out of retirement.
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