Disney Winning Battle Against Peltz With Over Half of Votes Cast

Shannen Ace

Nelson Peltz

Disney Winning Battle Against Peltz With Over Half of Votes Cast

With over half of shareholder votes cast, Disney is winning their proxy battle against Nelson Peltz, according to the Wall Street Journal.

Nelson Peltz
Credit: Patrick T. Fallon/Bloomberg

A few days ago, the Wall Street Journal reported Nelson Peltz was ahead when 20% of votes were cast. Peltz aims to replace Maria Elena Lagomasino on the Disney Board of Directors. His firm, Trian Partners, also nominated former Disney CFO Jay Rasulo, who is not garnering as much support as Peltz.

BlackRock, Disney’s second-largest shareholder with 78 million shares, supports Disney, WSJ’s sources say. T. Rowe Price, with 9.3 million Disney shares, announced they also plan to support Disney.

Proxy advisory firm Glass Lewis previously expressed support for Disney and Iger, as did former Imagineer Bob WeisGeorge LucasJPMorgan Chase CEO Jamie Dimon, Olaf voice actor and Disney Legend Josh Gad, and the Disney family.

Trian’s supporters include Neuberger Berman and the California Public Employees’ Retirement System. Institutional Shareholder Services and Egan-Jones also previously expressed their support for Peltz.

Results will be announced during the annual shareholders meeting on Wednesday, April 3. The meeting starts at 10 a.m. PT.

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