Today: April 20, 2024
Today: April 20, 2024

Disney shareholders back CEO Iger, rebuff activist shareholders who wanted to shake up the company

Share This
LA Post: Disney shareholders back CEO Iger, rebuff activist shareholders who wanted to shake up the company
AP
AP
April 03, 2024

BURBANK, Calif. (AP) — Disney shareholders rallied behind longtime CEO Robert Iger, voting Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney chief financial officer Jay Rasulo, who had sought seats on the company’s board.

The company had recommended a slate of directors that did not include Peltz or Rasulo.

The dissident shareholders had said in a preliminary proxy filing that they wanted to complete a successful CEO succession at Disney and align management pay with performance.

Disney announced in November 2022 that Bob Iger would come back to the company as its CEO to replace his hand-picked successor, Bob Chapek, whose two-year tenure had been marked by clashes, missteps and weakening financial performance.

Iger was Disney’s public face for 15 years as chief executive before handing the job off to Chapek in 2020, a stretch in which Iger compiled a string of victories lauded in the entertainment industry and by Disney fans. But his second run at the job has not won him similar accolades.

Popular

Live video of man who set himself on fire outside court proves challenging for news organizations

A man who set himself on fire outside the Manhattan courtroom where Donald Trump was on trial tested news organizations on how quickly they could respond to an incident and what to show viewers

Mandisa, Grammy-winning singer and 'American Idol' alum, dies at 47

Contemporary Christian singer Mandisa, who appeared on “American Idol” and won a Grammy for her 2013 album “Overcomer,” has died

Coyotes' move to Salt Lake City elicits opposing responses in 2 cities

NHL Commissioner Gary Bettman sat next to the former Arizona Coyotes owner in a downtown Phoenix hotel meeting room, trying to put a positive spin on the funeral for a franchise

Taylor Swift drops 15 new songs on double album, 'The Tortured Poets Department: The Anthology'

Could there be a Taylor Swift new album rollout without a few additional surprises

Related

UAW clinches watershed union victory at Volkswagen Tennessee factory

Here’s how Phish is using the Sphere's technology to give fans something completely different

Nike to lay off 740 employees at Oregon headquarters

Police to review security outside courthouse hosting Trump's trial after man sets himself on fire

- Advertisement -
Advertisement: Limited Time Offer