ISS, the most influential proxy advisory service, has recommended shareholders vote to put Trian’s Nelson Peltz on Disney’s board, saying the activist investor, “with his considerable experience on other boards and fiduciary duties owed to a large shareholding group, appears best positioned to bring a shareholder perspective to the board.” ISS advises shareholders how to vote at annual meetings.
Disney’s is coming up April 3. It did not recommend a vote for Trian’s other nominee, former Disney executive Jay Rasulo. Its report today differs from that of Glass Lewis, another advisory firm that last week recommended shareholders support only Disney board nominees.
To get Peltz on the board, ISS recommends shareholders withhold votes for current director Maria Elena Lagomasino, one of the two directors Peltz was also targeting. “Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board is properly engaged this time around.
He could also help evaluate future capital allocation decisions. Moreover, multi-year concerns surrounding Lagomasino’s role as a compensation committee member strengthen the case that Peltz’s addition, on balance, would appear a net positive,” ISS said.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.