Disney shareholders to decide Nelson Peltz's board fate at annual meeting

Key Facts

If the reported votes hold, it would be a significant victory for CEO Bob Iger and a Disney board that has fought hard to keep Peltz and Rasulo at bay.
Most of those shares are owned by former Disney executive and Marvel CEO Ike Perlmutter, who has supported Peltz and is paying a portion of the expenses relating to soliciting proxies, according to an SEC filing.
Glass Lewis sided with Disney and asserted Iger’s return, paired with this year’s nominations of Gorman and former Sky CEO Jeremy Darroch to the board, have given the company “adequate opportunity to launch a more credible succession program and develop, communicate and execute on several key initiatives which appear to reasonably target acknowledged operational and financial weaknesses at Disney.”
Blackwells isn’t supporting Trian’s campaign and has different recommendations for Disney than Peltz and Rasulo, including a possible split of the company by separating its owned real estate into a publicly traded real estate investment trust.