Disney edges ahead in battle for board seats with activist investors
© Reuters. A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo) appeared to pull ahead of activist investors in the battle for board seats and the future of the global entertainment conglomerate, with more than half of all shares voted before the company's annual meeting on Wednesday.
Disney wants shareholders to elect all 12 of its current directors while the two hedge funds, Trian and Blackwells, are pushing for their own seats. On Monday morning Trian said again in materials sent to investors that current Disney directors Lagomasino and Froman -"one an advisor to wealthy families and the other with experience in foreign affairs" - lack relevant skills.
"It's the No. 1 job of the board, and we take it very seriously," Everson said in an interview on CNBC.
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