Disney wins boardroom showdown with activist investor

CEO Bob Iger says defeat of Nelson Peltz campaign will allow company to focus on ‘growth and value creation’ for shareholders

Disney saw off a boardroom coup on Wednesday, defeating a bid by one of corporate America’s most renowned activist investors to overhaul its management.

The entertainment giant announced at its annual shareholder meeting that it had secured enough votes by a “substantial margin” to defeat a campaign launched by the billionaire Nelson Peltz, who has spent months demanding change at the Magic Kingdom and excoriating its top executives.

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