Disney Implements New Rules and Dividend Reinstatement Amid Nelson Peltz's Proxy Fight

Disney has adopted new director nomination rules in response to activist investor Nelson Peltz's proxy campaign to gain seats on the company's board of directors. The amended bylaws require additional disclosures and representations from outside parties making director nominations and business proposals. In an effort to win shareholder favor, Disney also announced its first dividend payments in over three years. Peltz's Trian Fund Management plans to take its case directly to shareholders after Disney rejected their request for board seats. Blackwells Capital, another Disney shareholder, expressed support for Disney's current leadership and board appointments.