Disney CEO Gains Support in Proxy Battle Against Billionaire Investor

ValueAct Capital Management and Blackwells Capital Back Iger Against Peltz's Attempt to Seize Control of Disney's Board

Disney CEO Bob Iger has gained support from ValueAct Capital Management and Blackwells Capital in his ongoing proxy battle against billionaire activist investor Nelson Peltz and former Marvel Chairman Ike Perlmutter.
ValueAct has confirmed it will support the Disney Board of Directors’ recommended slate of nominees for election to the Board at the 2024 Annual Meeting, effectively backing Iger.
Blackwells Capital has announced its own tacit support by nominating three people for board seats: former Warner Brothers executive Jessica Schell, Tribeca Film Festival co-founder Craig Hatkoff, and TaskRabbit founder Leah Solivan.
Peltz, backed by Perlmutter, has been attempting to seize control of Disney's board of directors and oust Iger from his position as CEO.
Peltz's Trian Fund Management controls about $3 billion worth of Disney shares, significantly more than Blackwells' $5 million.