Vanguard holds executive vote on Mr. Peltz
Walt Disney Company CEO Bob Iger speaks at the grand opening ceremony of the Zootopia-themed attraction at Shanghai Disney Resort on December 19, 2023 in Shanghai, China.
Visual China Group | Getty Images
disney's Its largest shareholder, index fund manager Vanguard, plans to back a management team over Nelson Peltz's Trian Partners in a board vote Wednesday. Bloomberg News reported Tuesday, citing anonymous sources familiar with the matter.
Institutional shareholders have until Wednesday to change their voting rights. Vanguard owns 7.8% of Disney stock. black rockDisney's second-largest shareholder, with a 4.2% stake, also supports incumbent director and CEO Bob Iger, The Wall Street Journal reported on Monday.
right It's a significant blow to Peltz's ambitions to join Disney's board of directors. If both BlackRock and Vanguard continue to support the media company's candidates. That leaves State Street and Geode Capital Management, the company's third and fourth largest shareholders, as unknowns.
through arrangement Tryon, along with former Marvel chairman Ike Perlmutter, controls 1.8% of Disney stock, making them the company's fifth-largest shareholder. Individual investors have until 11:59 p.m. ET on Tuesday to submit their votes by phone or online.
Trian also has support from other small shareholders, including Neuberger Berman and Calpers. Disney has invited some of the most prominent names in the corporate and media worlds. JP Morgan Chase CEO Jamie Dimon and Star Wars creator George Lucas.
Disney's shareholder meeting begins Wednesday at 1:00 pm (Eastern Time).
Vanguard declined to comment to CNBC.
Summarize this content to 100 words Walt Disney Company CEO Bob Iger speaks at the grand opening ceremony of the Zootopia-themed attraction at Shanghai Disney Resort on December 19, 2023 in Shanghai, China.Visual China Group | Getty Imagesdisney's Its largest shareholder, index fund manager Vanguard, plans to back a management team over Nelson Peltz's Trian Partners in a board vote Wednesday. Bloomberg News reported Tuesday, citing anonymous sources familiar with the matter.Institutional shareholders have until Wednesday to change their voting rights. Vanguard owns 7.8% of Disney stock. black rockDisney's second-largest shareholder, with a 4.2% stake, also supports incumbent director and CEO Bob Iger, The Wall Street Journal reported on Monday.right It's a significant blow to Peltz's ambitions to join Disney's board of directors. If both BlackRock and Vanguard continue to support the media company's candidates. That leaves State Street and Geode Capital Management, the company's third and fourth largest shareholders, as unknowns.through arrangement Tryon, along with former Marvel chairman Ike Perlmutter, controls 1.8% of Disney stock, making them the company's fifth-largest shareholder. Individual investors have until 11:59 p.m. ET on Tuesday to submit their votes by phone or online.Trian also has support from other small shareholders, including Neuberger Berman and Calpers. Disney has invited some of the most prominent names in the corporate and media worlds. JP Morgan Chase CEO Jamie Dimon and Star Wars creator George Lucas.Disney's shareholder meeting begins Wednesday at 1:00 pm (Eastern Time).Vanguard declined to comment to CNBC.Read the full Bloomberg report here.
https://www.cnbc.com/2024/04/02/disney-proxy-fight-vanguard-voting-for-management-over-peltz.html Vanguard holds executive vote on Mr. Peltz
