The California Public Employees Retirement System (CalPERS) has voted to elect activist investor Nelson Peltz and Jay Rasulo to Disney’s board of directors, according to The Hollywood Reporter.
- CalPERS, which owned 6.65 million shares in the media giant at the end of December, issued the following statement:
- “CalPERS believes Walt Disney Co will benefit from fresh eyes on its board of directors and voted its company shares in favor of candidates Nelson Peltz and Jay Rasulo.”
- At Disney’s Annual Meeting of shareholders, which will be held on April 3, Peltz and Trian will seek to take over the seats of Disney board members Michael B.G. Froman and Maria Elena Lagomasino.
- CalPERS joins Egan-Jones, which recommended that Disney shareholders vote for Peltz and Rasulo just a couple of days ago, and Institutional Shareholder Services, which did the same earlier in the month.
- The grandchildren of Walt and Roy Disney have shared letters expressing their support of Disney CEO Bob Iger and the company’s ongoing proxy battle against Trian.
- JPMorgan Chase CEO Jamie Dimon also backed Iger in the ongoing proxy battle.
- Others who have backed Iger and Disney’s current board include: