Disney shareholders vote to back Iger following proxy fight

Shareholders in Disney voted to back CEO Bob Iger on Wednesday during the company’s annual investors meeting.

Iger and his allies on the board fought off billionaire investor Nelson Peltz, who has argued the entertainment and media giant needed new direction and was fighting to win seats on its board.

Investors backed Iger by “a significant margin” the company said, marking a major victory for the executive who presides over some of the world’s largest media brands, such as ESPN, ABC and Marvel.

During a presentation to investors, Iger vowed to push further into streaming and stay committed to what he called the company’s core mission of providing news and innovative content across its various businesses.

Peltz, who heads investment firm Trian Partners, said during the meeting that “regardless” of the outcome of the Wednesday vote, he and his partners “will be watching the company’s performance.”