Disney shareholders back CEO Iger, rebuff activist shareholders who wanted to shake up the company
A live TV news station covering breaking news and traffic for Colorado Springs, Pueblo, and Southern Colorado with a strong investigative team Disney shareholders have voted to back CEO Robert Iger, despite efforts by activist shareholders Nelson Peltz and Jay Rasulo who had sought seats on the company's board. The Disney board had recommended a slate of directors that did not include these shareholders. The shareholders had argued that Iger should be replaced and align management pay with performance. Following the vote, Disney shares have risen by roughly 50% since their campaign began.
Published : 4 weeks ago by in Business
BURBANK, Calif. (AP) — Disney shareholders have rallied behind longtime CEO Robert Iger. They voted Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney chief financial officer Jay Rasulo, who had sought seats on the company’s board. The entertainment giant had recommended a slate of directors that did not include Peltz or Rasulo. The dissident shareholders had said in a preliminary proxy filing that they wanted to replace Iger at Disney and align management pay with performance. They declared a victory of sorts following the vote, noting that Disney shares have risen roughly 50% since they began pressuing the company.
Topics: Business Leaders, Activism