T. Rowe Price Supports Current Walt Disney Company Directors

According to Reuters, T. Rowe Price stated it has voted for Disney's directors.

What's Happening:

  • Mutual fund firm T. Rowe Price has voted for the entertainment giant's current directors.
  • The company owns over 11 million shares in the Walt Disney Company.
  • That amounts to 0.64% of Disney stock, making them a top 20 shareholder in the company.
  • In turn, this vote would be a blow to both Trian Fund Management and Blackwells Capital as they seek board seats.
  • T. Rowe Price said they voted for Maria Elena Lagomasino and Michael Froman, who are the two Disney-appointed incumbent directors being targeted by Trian/Peltz.
  • The spokesperson for T. Rowe Price said, "T. Rowe Price is comfortable that management has a viable plan to address the important matters facing the company.”
  • Reports indicate that Disney has pulled ahead in the fight against Trian, with more than half of the votes cast.
  • However, not only does voting continue but shareholders are able to change their mind on cast ballots up until the vote closes.
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Tricia Kennedy
As a huge Disney fan Tricia enjoys having Walt Disney World basically in her backyard. When she's not at the theme parks she is either playing drums or with her dog Yoda. She is a lifelong Star Wars fan and has ridden Star Tours over 270 times.