Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz's hedge fund Trian Fund Management, people familiar with the matter said on Tuesday.
Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz's hedge fund Trian Fund Management, people familiar with the matter said on Tuesday.
Enough votes had been cast as of Tuesday evening to put Disney's board directors safely ahead of Trian's two challengers, that included Peltz and former Disney chief financial officer Jay Rasulo, the sources said.
Blackwells Capital, another hedge fund that nominated three board director candidates at Disney, was also unsuccessful in its attempt, the sources said.
Spokespeople for Disney did not immediately respond to a request for comment.
Persons:
Walt, Nelson Peltz's, Peltz, Jay Rasulo, Blackwells
Organizations:
Walt Disney Co, Fund Management, Disney, Blackwells