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Disney claims victory in boardroom battle with activists Trian and Blackwells

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The Walt Disney Company says its full slate of 12 directors was elected by a substantial margin over the nominees of activist hedge funds Trian and Blackwells at the entertainment giant’s 2024 annual meeting of shareholders on Wednesday.

Disney’s claims are “based on the tabulation of its proxy solicitor”, according to a press statement, although final voting tallies are subject to certification by the company’s independent inspector of elections. Preliminary and final results will be included in the company’s reports to be filed with the Securities and Exchange Commission in the coming days.

According to Disney, shareholders voted to elect all 12 nominees recommended by Disney’s board: Mary T Barra, Safra A Catz, Amy L Chang, D Jeremy Darroch, Carolyn N Everson, Michael BG Froman, James P Gorman, Robert A Iger, Maria Elena Lagomasino, Calvin R McDonald, Mark G Parker and Derica W Rice.

In the statement, Disney’s CEO Bob Iger said: “With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers.”

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