Walt Disney Co (NYSE:DIS, ETR:WDP) has successfully rebuffed a challenge from activist investor Nelson Peltz, affirming CEO Bob Iger's leadership.
In a shareholder vote, Disney's nominees were backed by a "substantial margin", with large investors such as Vanguard and BlackRock supporting the entertainment giant.
About three-quarters of Disney's individual shareholders, many of whom are fans of its theme parks and characters, voted for Disney's board nominees.
Only 31% of all shareholders supported Peltz's addition to the board.
The proxy battle, which began in January 2023 after Trian disclosed a significant stake in Disney, saw Peltz advocating for strategic changes at Disney and criticising its direction under Iger.