Disney Will Webcast Its Annual Shareholders Meeting This April
The Walt Disney Company will once again webcast its annual meeting of shareholders this year when the event takes place on April 3 at 1:00 pm ET.
While every Disney annual meeting is a big event for fans and investors alike, this year’s meeting has more drama than most.
That is because the proxy battle between Disney and activist investors Nelson Peltz and Blackwells will come to a head when Disney announces the results of the shareholder voting for board members.
A Pair of Activist Investors
Peltz, who is being fueled by long-time Iger adversary Ike Perlmutter, is seeking seats on the Disney board for himself and former Disney CFO Jay Rasulo.
The activist investor is asking shareholders to withhold their votes from Maria Elena Lagomasino and Michael B.G. Froman.
Blackwells is seeking seats on the Disney board for Jessica Schell, Craig Hatkoff, and Leah Solivan. Unlike Peltz’s Trian Management, they are not looking to replace any Disney board members; instead, they just want additional seats added to the board.
Disney, meanwhile, has put forward a 12-candidate slate for the board, including Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W. Rice.
The Proxy Battle Comes to an End
As the proxy battle between Disney and Peltz has entered the endgame, both sides have grown increasingly antagonistic.
Buoyed by a surging stock price and a slew of endorsements, Bob Iger and the Disney board will look to vanquish Peltz once and for all at the Walt Disney Company annual meeting on April 3.
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