Disney Shareholders Block Nelson Peltz’s Trian Fund Management Takeover

Disney’s shareholders may have just saved the company! The latest shareholder vote has decided against bringing Nelson Peltz onto the Board of Directors.

It’s been an interesting week for Disney fans. Recently, a proxy war around the company’s Board of Directors has come to a head, with activist investor Nelson Peltz attempting to replace many of the seats with himself and allies of his to make changes to the company, including getting rid of the company’s plans for “woke” films.

“People go to watch a movie or a show to be entertained,” Peltz told the Financial Times. “They don’t go to get a message. Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that? Why can’t I have Marvels that are both? Why do I need an all-Black cast?”

These comments led many fans to worry that Nelson Peltz would try to pull a company toward a reactionary bent, being the latest in a long line of billionaires purchasing media companies in an attempt to further their agenda under the guise of getting rid of the “woke” agenda.

Disney’s Shareholders Block Nelson Peltz’s Takeover

Luckily for fans of Disney, it seems Nelson Peltz won’t be getting his wishes. Peltz was roundly rejected by shareholders, including the likes of George Lucas and ex-CEO Michael Eisner. A report reveals that Peltz received a meager 31% of the votes. In comparison, current CEO Bob Iger received 94%.

Of course, the fight against activist investors like Nelson Peltz is far from over. It’s likely Peltz will continue to try to get some influence over Disney, especially given former Chairman of Marvel Entertainment Ike Perlmutter has put his weight behind him. However, Disney fans can take a deep breath knowing that day likely won’t be today.

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