Disney’s annual meeting will include an exciting ride | Trending Viral hub

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At first, Robert A. Iger, Disney’s chief executive, seemed set to easily defeat Trian. (Blackwells were never much of a threat). Prominent Disney shareholders like George Lucas and Laurene Powell Jobs lined up to back him. Members of the Disney family, including Abigail E. Disney, Damn Trian and Blackwells as “wolves in sheep’s clothing.” Analysts (Guggenheim, Macquarie) and shareholder advisory firms (Glass Lewis, ValueEdge) poured cold water on Peltz’s campaign.

But it has become a much tighter competition.

Mr. Iger’s position is not at stake. Now 73 and in his second stint as CEO, he has vowed to leave Disney for good at the end of 2026. However, a loss would tarnish his legacy and potentially alter the company’s approach to streaming, theme park expansion and even the messages embedded in his movies.

This is what you should know.

In recent days, Disney has received crucial support in its effort to keep dissidents off its board of directors. BlackRock, which owns about 80 million Disney shares, voted to pick up Disney on Monday, as did T. Rowe Price, who owns about nine million. Vanguard, which owns about 146 million shares, gave its vote to Disney on Tuesday.

But activists also have supporters. ISS, an influential proxy advisory firm, partially on Mr. Peltz’s side, criticizing Disney’s succession planning. Peltz also got backing from Egan-Jones, another advisory firm; He blamed Disney for veering unnecessarily into what he called “the killing fields of the culture wars.”

In voting for Peltz, the California Public Employees Retirement System, or CalPERS, which owns about 6.6 million Disney shares, said the company would benefit from “fresh eyes.” He added that Peltz was “capable of leading the necessary change in corporate governance.”

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