Disney on Wednesday emerged victorious in its proxy battle with activist investors. The entertainment giant, helmed by CEO Bob Iger, said Wednesday afternoon that a preliminary tally showed its 12 board nominees won reelection. Disney said the result was a "substantial margin" over the totals cast for Trian Group and Blackwells Capital, two entities that separately launched proxy fights against the company.
Countering Trian’s claims, Disney said it "aggressively executed our key strategic priorities to make Disney’s business more efficient and effective, reinvigorated our creative engines, and sharpened our focus on our greatest brand and franchise assets." Blackwells, meanwhile, said in a statement to FOX Business that its "primary objective" of preventing Peltz from getting a Disney board seat had been achieved.
want to thank our shareholders for their trust and confidence in our Board and management," Iger said, adding that the company was "eager to focus 100% of our attention" on "growth and value creation for our shareholders and creative excellence for our consumers" now that the proxy battle has ended. Disney said the final vote counts still needed certification from its independent elections inspector.
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