Activist investor Nelson Peltz is ending his proxy battle with Walt Disney Co. DIS amid changes initiated by newly reinstalled chief executive Bob Iger, according to a CNBC interview Thursday morning. “This was a great win for all the shareholders,” Peltz said. “Management at Disney now plans to do everything that we wanted them to do.” He had been looking to replace Michael Froman on Disney’s board of directors, but that’s no longer the plan. “We will be watching, we will be rooting, and the proxy fight is over,” Peltz said. Disney announced alongside its Wednesday afternoon earnings that it would be cutting 7,000 jobs and conducting a reorganization of the business. Peltz’s interest in Disney was part of a trend among activists to increasingly target larger companies.
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