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US and global media conglomerate Disney's board of directors has elected independent director Mark G. Parker as chairman of the board, effective following the annual meeting of shareholders.
Nelson Peltz wants the company to revamp its streaming business and focus on increasing profits. Disney wants shareholders to vote against his effort to get a seat on the board.
The company reiterates its two-year mandate for recently returned CEO as it faces proxy fight with activist investor Nelson Peltz.
Disney gets new chairman, rebukes billionaire investor's attempt to join board. Disney named a new board chairman on Wednesday while continuing to fend off billionaire investor Nelson Peltz's bid to join.
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