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Norges Bank Investment Management backs Disney in board room fight with hedge funds
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Norges Bank Investment Management backs Disney in board room fight with hedge funds
Apr 2, 2024 5:47 AM

NEW YORK, April 2 (Reuters) - Norges Bank Investment

Management, one of Walt Disney's ( DIS ) biggest investors, said

on Tuesday that it voted to re-elect the entertainment giant's

directors, dealing a blow to the hedge funds pushing for seats

on Disney's ( DIS ) board.

NBIM, which manages the Norwegian Government Pension Fund

and owned a 1.2% stake in Disney ( DIS ) at the end of last year, said

it voted for 11 of the company's 12 directors but withheld its

vote from Mark Parker, Disney's ( DIS ) board chairman.

It did not vote for any candidates proposed by hedge funds

Trian Fund Management or Blackwells Capital.

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