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Disney Has Enough Votes to Defeat Activist Investor Nelson Peltz’s Board Candidates: Report

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variety.com

Todd Spangler NY Digital Editor Disney had won enough of the shareholder votes cast for its 12 board candidates as of Tuesday evening to successfully defeat an aggressive, months-long proxy fight waged by Nelson Peltz‘s Trian Partners hedge fund, Reuters reported, citing anonymous sources.

Enough votes had been cast as of Tuesday evening to put Disney’s board directors “safely ahead” of Trian’s two nominees for the board — Peltz and ex-Disney CFO Jay Rasulo — per the Reuters report.

In addition, the three board candidates proposed by investment firm Blackwells Capital failed to win enough votes, according to the report.

The official vote counts will be announced at Disney’s 2024 annual meeting of shareholders, which will be held virtually Wednesday, April 3, starting at 10 a.m.

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