Disney’s Proxy Fight with Nelson Peltz Ends But Scrutiny Will Persist: ‘We Have Turned the Corner,’ Bob Iger Declares in Pre-Taped Victory Lap
variety.comCynthia Littleton Business Editor In the end, Bob Iger didn’t have to break a sweat to fend off Nelson Peltz. No question, Disney did have to spend tens of millions of dollars to fight the proxy battle with the activist investor, which came to a head on Wednesday with the Mouse House’s annual shareholders meeting.
From the start, it was an extreme long shot that a majority of shareholders (or a majority of those who opted to cast a virtual vote) would turn against Iger and install Trian Partners founder Peltz and former Disney executive Jay Rasulo as board members, in opposition to Disney’s preferred slate of 12 incumbent directors.
On Wednesday, Iger was in prime form as Disney’s avuncular statesman, addressing the meeting in a pre-taped video filmed — where else? — at the happiest place on earth, aka Disneyland Resort in Anaheim, Calif.
Disney’s shareholder meeting was entirely virtual this year, in contrast to the company’s past tradition of hosting it in a city with significance to something happening at the company.
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