Disney’s Victory in 2024 Proxy Contest: Lessons for Boards and Practitioners

On April 3, 2024, The Walt Disney Company (“Disney”) successfully won a proxy contest launched by Nelson Peltz’s Trian Fund Management LP (“Trian”) and Blackwells Onshore I LLC and affiliates (“Blackwells”) at its 2024 Annual Shareholders Meeting. The outcome of this high-profile contest offers several insights for boards and practitioners on how to prepare for and respond to activist challenges in today’s corporate governance landscape. In this article, we highlight some of the key takeaways from Disney’s 2024 Annual Meeting.