Business

Disney saw off an epic proxy challenge from Nelson Peltz at its annual general meeting. Through Trian, his hedge fund, Mr Peltz was seeking two seats on the company’s board to “restore the magic”, claiming that poor management and box-office failures have contributed to the underperformance of Disney’s share price. But Bob Iger, the chief executive, fought an extensive campaign defending his turnaround strategy, which won the support of BlackRock, the Disney family and George Lucas, a film producer. Mr Peltz reportedly received just 31% of the vote for his claim to a seat.