California Pension Fights Disney Over Iger Chairman Role
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The California State Teachers’ Retirement System, in a governance dispute with Walt Disney Co., will oppose the election of six directors, including Chairman and Chief Executive Officer Robert Iger.
The $158 billion state pension, with 5.28 million Disney shares, will oppose an amendment to the company’s stock incentive plan and cast a “no” advisory vote on executive pay, according to a statement today. Calstrs also will vote in favor of splitting the chairman and CEO roles in the future.