Nelson Peltz sells entire Disney stake weeks after losing proxy battle

Activist investor has sold their entire stake in Disney. In early April, the investor lost a proxy battle at Disney as shareholders reelected the company’s full slate of board nominees. The investor had been seeking to elect themselves and a former Disney Chief Financial Officer to the company’s board. The investor had taken issue with Disney governance, particularly the company’s streaming strategy and a failed succession plan for CEO Bob Iger.