Disney Faces Proxy Battle Over Board Election

Published on March 23, 2024

A major proxy advisory firm has recommended Disney shareholders support one of the company’s rival nominees in the upcoming dictator board elections. On April 3, Disney shareholders will cast their votes to choose new board members. Disney has announced 12 nominees, including Bob Iger, its chief executive officer. Activist investment firm Trian Fund Management, which has a $3.5 billion stake in the company, has nominated two individuals to the board—its co-founder Nelson Peltz and former Disney chief financial officer Jay Rasulo. On Thursday, Trian announced that Institutional Shareholder Services (ISS), the largest and most influential proxy advisory firm, has recommended that Disney shareholders vote for Mr. Peltz at the April meeting....

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