The Final Tallies in the Disney Proxy Battle Are In- Nelson Peltz Got Crushed
The dust has now long settled on Nelson Peltz’s proxy battle to get a seat on the Disney board, and the final votes are in.
While we have previously reported that Nelson Peltz fell far short of gaining a seat on the board, managing to get the vote of just 31% of shareholder botes, thanks to a new SEC filing, we now have the final results. For Peltz, it was ugly.
Creator: Mike Blake Credit: REUTERS
The activist investor managed to get just 370,974,890 votes. That was a far cry from the 749,857,222 votes that current director Maria Elena Lagomasino got. Peltz had targeted the director for replacement.
Every Disney Candidate Besides Lagomasino Got 1 Billion Votes
Outside of Lagomasino, who had 441,873,001 votes withheld from her, every other current Disney director got at least 1 billion votes.
NBC News
That includes Bob Iger, who got 1,118,465,241 votes, or 94%. 73,022,334 votes were withheld from the Disney CEO.
Jay Rasulo and the Blackwells Candidates Fared Worse Than Peltz
Former Disney CFO Jay Rasulo, who was nominated by Peltz’s Trian Management, only managed to get 141,546,437 votes. He had been looking to unseat Disney director Michael Froman. Froman beat Rasulo by a massive margin, getting 1,041,407,854 votes.
Jay Rasulo
Finally, there were the Blackwells Capital candidates. The other activist investor in the picture had five candidates of their own. Each managed to garner just over 24 million votes each.
Peltz Could Return
After the most expensive proxy battle in history, Disney decidedly defeated Nelson Peltz. That, however, does not mean the activist investor is going away.
Photo: CNBC
“The shareholders have voted. They want to give management and the board a chance. So so be it. We will watch like we did last time,” he said.
“We pulled out a year ago February. A lot of promises were made. We hoped that they were going to keep them. They didn’t, we came back. We’ve got a new set of promises, and I hope they keep them and if they if they do, I’ll be a guest on the other show probably talking about a different company. But if they don’t, you’ll see me again.”
Thanks for visiting MickeyBlog.com! Want to go to Disney? For a FREE quote on your next Disney vacation, please fill out the form below. One of the agents from MickeyTravels, a Diamond level Authorized Disney Vacation Planner, will be in touch soon! Also, thanks for reading!
