Disney Shareholders Reject Activist Nelson Peltz's Board Bid

Activist investor Nelson Peltz lost his proxy fight for board seats at Disney, with shareholders voting to re-elect all 12 of Disney's board members.

Peltz had criticized Disney's board for poor succession planning and a lack of profitability in streaming.

Disney spent $40 million campaigning against Peltz, while Peltz spent $25 million.

Disney CEO Bob Iger secured backing from various high-profile supporters including JP Morgan's Jamie Dimon.

With the proxy fight over, Disney said it can refocus on growth, value creation, and creative excellence.