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Disney shareholder vote serves as a victory for CEO Bob Iger [Video]

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Brand Awareness

New York –

Disney won a hard-fought proxy battle against a group of activist investors who sought to secure seats on the company’s board of directors. The shareholder vote served as a legacy-defining victory for CEO Bob Iger.

Disney’s board triumphed by what the company called “a substantial margin” over the nominees put forward by Trian Fund Management and Blackwells Capital at its annual shareholder meeting.

Iger didn’t just beat Trian’s Nelson Peltz, but trounced him, according to a person familiar with the vote count.

Peltz’s attempt at a board seat received less than one-third of the vote, around 31 per cent, according to the source. Jay Rasulo, the former Disney finance chief who joined Peltz’s attempt, also lost by a wide margin, the person said.

Retail shareholders, which hold roughly 35 per cent of Disney stock, also voted overwhelmingly – 75 per cent – for Disney’s candidates. Still, board members typically get …

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