CalPERS Backs Activist Investor Peltz and Ex-Disney CFO for Board Seats Ahead of Shareholder Vote, Escalating Tense Disney Proxy Fight

CalPERS pension fund votes for activist investor Nelson Peltz and former Disney CFO Jay Rasulo to join Disney's board.

CalPERS owns 6.65 million Disney shares; joins Egan-Jones and ISS in backing Peltz and Rasulo.

Vote comes ahead of Disney's annual shareholder meeting on April 3rd to elect 2 board members.

Activist investor Nelson Peltz of Trian Partners and Disney CEO Bob Iger locked in tense proxy fight over board seats.

Peltz argues Disney's business is in decline under Iger; Iger says Peltz will be a "distraction" that hurts company.