Disney Board Showdown: What’s at Stake at Contentious 2024 Shareholder Meeting
variety.comTodd Spangler NY Digital Editor Usually, shareholder votes for corporate board directors have all the suspense of a Soviet-style election.
Most of the time, director candidates are backed by the company, and they run unopposed — winning election or reelection in a landslide.
In 2022, only 75 board-endorsed candidates at companies in the Russell 3000, less than 0.5% of almost 17,500 board members on the ballot that year, failed to get elected by shareholders, per an analysis by the Harvard Law School Forum on Corporate Governance (which also noted that, while small, the number had dramatically risen vs.
2017). For Disney, the 2024 shareholders meeting is different. Investors are voting on three competing board candidate slates — Disney’s own recommended 12-member lineup, including CEO Bob Iger; two nominated by Trian Fund Management, which is headed by activist investor Nelson Peltz (Peltz himself and ex-Disney CFO Jay Rasulo); and three from another investment firm that has entered the fray, Blackwells Capital.
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