Florida pension plan supported Disney CEO Bob Iger in proxy fight
Walt Disney Co. CEO Bob Iger won control of his company board with the backing of a surprise ally — the state of Florida.
Florida’s pension plan voted in favor of Iger and 10 of the 12 Disney-backed board members at last week’s annual shareholder meeting although it voted against Iger’s and other executives’ compensation. Iger was paid $31.6 million in 2023.
Iger won his proxy battle last week when he got enough votes to keep billionaire shareholder activist Nelson Peltz off the board. The executive compensation proposal backed by Disney also passed.
The Florida State Board of Administration (FSBA) withheld a vote on Peltz, according to its voting disclosure record posted on its website.
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