Disney shareholders voted in support of CEO Bob Iger at the annual shareholders meeting today. Billionaire investor Nelson Peltz was unsuccessful in his attempt to win seats on the board of directors and change the direction at Disney, with shareholders reelecting all 12 members of the board of directors.
Peltz’s multi-billion-dollar investment firm, Trian Partners, claimed its impact on Disney has helped it become one of the best-performing in the stock market this year, stating in a press release today:
Since we re-engaged with the Company in late 2023, Disney has announced a host of new operating initiatives and capital improvement plans. The Board has been refreshed with two new directors. Over the last six months, Disney’s stock is up approximately 50% and is the Dow Jones Industrial Average’s best performer year-to-date.
Iger said Disney is focused on being a “responsible citizen of the world,” stating in his message at the shareholders meeting:
And our company, like our storytelling, has always been a force for good in the world.… That’s why Disney is dedicated to conducting our businesses with clarity of purpose and a deep sense of integrity, as we strive to have a positive impact in the communities in which we operate.… All of this ongoing work is part of our overarching commitment to being a responsible citizen of the world.
Before the meeting, Elon Musk stated he supported Peltz, stating on X, “Nelson Peltz should definitely be on the Disney board! He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies. This would significantly improve Disney’s share price.” Musk also remarked that he would invest in Disney if shareholders elected Peltz to the board of directors: “While I don’t own any Disney shares today, I would definitely buy their shares if Nelson were elected to the board. His track record is excellent.”
