Disney Shareholders Reject Activist Investor's Board Bid, Backing Iger's Strategy

• Disney shareholders rejected activist investor Nelson Peltz's board nominees, ending a months-long proxy battle over the company's streaming strategy and CEO succession plan

• Peltz, through his hedge fund Trian Partners, criticized Disney's streaming losses and lack of IP acquisition, pushing for cost cuts and a clear path to "Netflix-like margins"

• Disney CEO Bob Iger defended the company's performance and dismissed the activist campaign as a distraction from Disney's ongoing business transformation

• The proxy fight centered on Peltz's call for board seats for himself and former Disney CFO Jay Rasulo to address streaming and succession issues

• Iger has committed to a smooth leadership transition by 2026, but Trian Partners urged a more definitive succession plan amid concerns over repeated delays