Disney fends off activist shareholders in a major win for Bob Iger

Disney successfully emerged victorious in a proxy battle against a group of activist investors aiming to secure positions on the company’s board of directors. CEO Bob Iger declared the shareholder vote as a significant triumph, with Disney’s board prevailing over the nominees put forward by Trian Fund Management and Blackwells Capital at its annual shareholder meeting. Trian, however, expressed disappointment but claimed to appreciate the dialogue with Disney stakeholders. The battle largely centered around Iger’s leadership and desired improvements in returns and restructuring within the company.