Proxy advisory firm ISS cites Disney's bungled succession planning in recommending a vote for Peltz. Disney has campaigned against the Trian hedge funder.
Rejecting the Walt Disney Co.'s bid for boardroom stability, an influential corporate research firm has recommended that shareholders add billionaire Nelson Peltz to the Disney board, raising the stakes for next month's proxy showdown. On Thursday, Institutional Shareholder Services Inc.
5 billion in Disney stock, including the shares of former Marvel Entertainment Chairman Ike Perlmutter, an Iger foe. “e strongly believe that ISS reached the wrong conclusion in its recent report when it comes to adding Nelson Peltz to the board,” said Mark Parker, chairman of Disney's board. “In contrast to Glass Lewis, ISS fails to acknowledge the breadth of perspective and expertise Ms. Lagomasino adds to the Board.
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