According to Reuters, Vanguard Group voted to elect the Walt Disney Company's current directors, allowing them to continue to pull ahead in the boardroom fight.
What’s Happening:
- Vanguard Group is one of the Walt Disney Company's largest investors and supports their current directors to help the company pull further ahead in the boardroom fight.
- Vanguard Group owned 8.2% of stock in the Walt Disney Company at the end of last year.
- Norges Bank Investment Management also said it voted to re-elect 11 of the 12 current directors.
- Norges Bank Investment Management withheld the vote for Parker because shareholders "have the right to seek changes to the board when it does not act in their best interest."
- These Disney endorsements came before the Tuesday night deadline for shareholders to decide on backing the current directors or five alternatives recommended by Trian Fund Management and Blackwells Capital.
- The company's annual shareholder meeting will take place today and will stream live at 1 p.m. EDT.
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