Disney Poised to Defeat Activist Investor Peltz's Board Bid Despite Close Shareholder Vote
• Walt Disney shareholder vote on activist investor Nelson Peltz's board seats takes place today, with enough votes cast for Disney to likely defeat Peltz • BlackRock, Vanguard, T. Rowe Price - major Disney shareholders - have voted to back company's existing board • Peltz seeks board seats for himself and former Disney CFO Jay Rasulo, aiming to replace directors Michael Froman and Maria Elena Lagomasino • Disney has defended current board, citing "significant progress" in turning business around via measures like ad-supported Disney+ tier • Shareholder meeting set for 10am PT/1pm ET today; Disney stock up 35% this year amid positive investor reaction to company changes