"Neuberger Berman Supports Trian's Slate, Citing The Company's Succession Woes, As Others Back CEO Bob Iger And His Strategy" - WSJ
Portfolio Pulse from Benzinga Newsdesk
Neuberger Berman supports Trian's slate in Disney's proxy fight due to concerns over Disney's succession planning, criticizing the board's past decisions, including the selection and ousting of Bob Chapek and the extension of Bob Iger's contract. The outcome hinges on investor confidence in the board's ability to choose a strong successor for Iger.
March 28, 2024 | 5:07 pm
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NEUTRAL IMPACT
Disney faces a proxy fight with Neuberger Berman supporting Trian's slate due to concerns over the company's succession planning and past board decisions.
The proxy fight and concerns over succession planning highlight governance issues that could influence investor sentiment. However, the impact on Disney's stock price in the short term is uncertain, as the market may have already priced in these governance concerns. The outcome of the proxy fight and subsequent decisions regarding succession planning will be key factors to watch.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90