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☆ Disney proxy battle is about a lot more than just two board seats
▼ + stars: | 2024-04-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.

Persons: —, Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: —, Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London

Christine McCarthy, Disney's chief financial officer, will step down from that role, the entertainment giant said Thursday. She will take a family medical leave of absence, and during that time, she will continue as a strategic advisor to Disney , the company said. Veteran Disney executive Kevin Lansberry, who currently works as finance chief for Disney's parks business, will become the company's interim CFO effective July 1. McCarthy, who started with Disney in 2000 and became CFO in 2015, leaves as Disney undergoes a broad restructuring during Bob Iger's second tenure as CEO. During McCarthy's tenure, Disney's streaming spending skyrocketed, and free cash flow fell.

Persons: Christine McCarthy, McCarthy, Disney, Kevin Lansberry, Bob, " McCarthy, Bob Iger's, Bob Chapek, Iger, Christine, — Organizations: Walt Disney Company's, Milken Institute Global, The Beverly Hilton Hotel, Disney, Veteran Disney, Chapek Locations: Beverly Hills , California

☆ Disney first approached Bob Iger about returning as CEO just days ago
▼ + stars: | 2022-11-21 | by ( Grace Kay | Claire Atkinson | ) www.businessinsider.com time to read: +2 min

Disney's plan to bring back Bob Iger as CEO came together in only a few days, a senior employee said. A top executive reached out to Iger about returning as CEO and the board agreed to the change. The board reached out to Iger on Friday, CNBC reported — just three days before the company announced that the former executive would immediately replace Bob Chapek as CEO. Over the past few months, several high level Disney executives told the board they were considering leaving under Chapek's leadership, the Disney exec told Insider. Read more on Bob Iger's return to Disney: A senior executive's outreach to the former chief followed months of complaints to the board about CEO Bob Chapek

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