Following months of intense campaigning, Disney CEO Bob Iger has, yet again, fought off an activist investor vote. During the 2024 annual meeting of shareholders of The Walt Disney Company, it was announced that the current Board of Directors has been successfully re-elected. 

The 12 nominees recommended by the Disney Board are: Mary T. Barra, Safra A. Catz, Amy L. Chang, D. Jeremy Darroch, Carolyn N. Everson, Michael B.G. Froman, James P. Gorman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker, and Derica W. Rice.

Nelson Peltz and Blackwells Capital both campaigned for seats on the board but were beaten by a substantial margin. Over the last 12 months, Peltz has been vocal about Disney's declining performance and wanted to implement a board-led review of Disney’s internal structure, among other controversial changes.

Mark Parker, Chairman of the Board, said:

“We are immensely grateful to our shareholders for their investment in Disney and their belief in its future, particularly during this period of great change in the broader entertainment industry. We are fortunate to have a highly qualified Board of Directors who possess a profound commitment to the enduring strength of this company and an enormous amount of experience and expertise, including succession planning. I’m thankful for Bob and his exceptional management team, as well as Disney’s employees and Cast Members around the world, for continuing to deliver for consumers and shareholders throughout this distracting proxy battle.” 

Following the vote, Bob Iger stressed that he was keen to focus on the most important priorities: “growth and value creation for our shareholders and creative excellence for our consumers.”

The final results are subject to voting tallies and will be included in Company reports in the next couple of days.