"CalPERS and NYC Retirement Systems Support Peltz and Rasulo in Disney Board Battle"
The California Public Employees Retirement System (CalPERS) has voted to elect activist investor Nelson Peltz and Jay Rasulo to the board of Walt Disney Company, joining other advisory firms in backing the candidates. The vote comes ahead of Disney’s annual shareholders meeting, where a showdown is set to take place over two board seats. Peltz, founder of Trian Partners, and Disney CEO Bob Iger have been at the center of a tense proxy fight, with Peltz arguing that Disney’s business is in decline under Iger, while Iger has been trying to convince shareholders not to vote for the investment firm’s candidates.