Disney shareholders back CEO Iger, rebuff activists who wanted to shake up the company

Published April 3, 2024 12:53 PM

By DAVID HAMILTON
AP Business Reporter

SAN FRANCISCO (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 complete a successful CEO transition 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.

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