CalPERS Supports Peltz in Disney Board Proxy Fight

The pension fund's vote for Nelson Peltz and Jay Rasulo adds tension to the battle over Disney's future direction.

CalPERS, one of the top pension funds in the U.S., has announced its support for Nelson Peltz and Jay Rasulo in the Disney board proxy fight, voting its 6.7 million shares in favor of the candidates.
The move by CalPERS is seen as a significant boost for Peltz and Rasulo, challenging Bob Iger and the current board's efforts to maintain control.
Institutional Shareholder Services (ISS) has recommended adding Peltz to the Disney board, citing the need for fresh perspectives in succession planning and corporate governance.
Disney shareholders have until April 2 to cast their votes, with the results to be announced at the shareholder meeting on April 3.
Peltz's campaign, outlined in a 133-page white paper titled "Restore the Magic," calls for a more robust movie business, improved streaming margins, more creativity, and a clear succession plan.