The Walt Disney Co. has released the official vote totals from its April 3 annual shareholder meeting, the event that featured the culmination of a proxy fight waged by Nelson Peltz. The effort by Peltz’s Trian Fund Management to secure two seats on the company’s board of directors was vanquished by Chairman and CEO Bob … Read more
EXCLUSIVE: The New York City Retirement Systems are in Disney‘s corner amid bitter proxy fight with activist investor Nelson Peltz. Disney’s “shares have performed well. Disney’s management and board are focused on a strategic transformation, and as shareholders we believe that they should be given the time to execute on this,” NYC Comptroller Brad Lander … Read more
Activist Disney investor Blackwells Capital is suing the media giant over what it sees as an inappropriately cozy relationship with another shareholder, ValueAct Capital. In the lawsuit filed Thursday in Delaware Chancery Court (read it here), Blackwells lays out concerns about whether ValueAct has been paid to take a pro-Disney position in a brewing proxy … Read more
Disney and its current CEO, Bob Iger, have secured the backing of Iger’s onetime boss, former Chairman and CEO Michael Eisner. In a statement posted to social media, Eisner didn’t name Nelson Peltz, whose Trian Fund Management is mounting an offensive to win two seats on Disney’s board at the April 3 annual shareholder meeting. … Read more
Disney’s latest salvo in a proxy fight with activist investor Trian Fund Management highlights the firm’s “silent partner” Ike Perlmutter and his “difficult history with Bob Iger.” That critique came in a 20-page slide deck, a follow-up to an anti-Trian video released by Disney earlier this week. The clash has intensified ahead of Disney’s annual … Read more
Disney shares were up 2% at mid-day Monday, extending their recent rally, as the company renewed its attacks on activist investor Nelson Peltz. In a video posted to VoteDisney.com criticizing Peltz and his firm, Trian Fund Management, Disney said the investor’s pursuit of board seats for himself and ex-Disney CFO Jay Rasulo “seems more about … Read more
In two open letters to shareholders of the Walt Disney Co., grandchildren of Walt Disney and his brother Roy O. Disney came out in support of CEO Bob Iger and current management, which is being assailed by two investment firms trying to change the makeup of the company’s board. “From Mickey and Minnie, to Snow … Read more
UPDATED with Disney letter to shareholders. In a letter to shareholders Wednesday, the Walt Disney Co. said it is better off “with Bob Iger at the helm” and without board representatives from activist firms like Nelson Peltz‘s Trian Fund Management. “Delivering ambitious growth plans requires leadership with a deep understanding of the company’s current strengths … Read more
Disney, assailed by activist investors, launched a new website today called VoteDisney with a video featuring Donald Duck’s uncle and other animated creatures telling shareholders what to do to keep the company’s board of directors intact, and showing them how to do it. “Friends, relatives and estimated chairman, you’re probably all wondering what we’re doing … Read more
