Overview

Disney shareholders overwhelmingly rejected a controversial proposal aimed at severing ties with a prominent LGBTQ rights organization during their annual meeting on Thursday.

The Proposal

The proposal sought to end Disney's participation in the Human Rights Campaign’s (HRC) Corporate Equality Index (CEI), aimed at assessing companies based on their LGBTQ-inclusive policies. It was pushed by the National Center for Public Policy Research (NCPPR) through its Free Enterprise Project.

Shareholder Response

In a preliminary vote, only 1% of shares were cast in favor of the proposal, indicating strong backing for Disney's commitment to inclusivity. Disney’s board had recommended against the proposal.

Disney's Commitment to Inclusion

This year, Disney achieved a perfect score on the HRC’s Corporate Equality Index, a recognition it has maintained since 2007.

Corporate Social Responsibility

The rejection of the proposal comes at a time when corporations, including Disney, are reevaluating their diversity, equity, and inclusion (DEI) programs.

Other Proposals

Disney shareholders also rejected proposals for a report on climate risks and addressing discrimination in advertising, both deemed unnecessary by the board.

Executive Compensation

Shareholders approved hefty compensation packages for executives, including a 30% increase for CEO Bob Iger.

Cinematic Future

Iger confirmed that 'Coco 2' is in the works for release in 2029.

Technological Advancements

Disney is exploring the use of AI technology, acknowledging its potential as transformative for the company.

Conclusion

With strong shareholder support and ambitious plans, Disney is focused on inclusion, creativity, and technological advancement.