Ruzenese, president and chief marketing strategist at MDB Capital, has joined Kabuto: From Coast to Coast to discuss Disney's recent shift.
The shareholder proposal calling for Disney to reconsider participation in the Human Rights Campaign (HRC) Corporate Equality Index came to the poll at the entertainment giant's annual general meeting, with shareholders voting widely against it.
Disney has long been a participant in the Corporate Equality Index, which HRC describes as “a national benchmark tool for corporate police, practices and profits related to lesbian, gay, bisexual, transgender and queer employees,” and has recently achieved the highest rating on the index this year.
According to a preliminary tally released Thursday, only 1% of shareholders voted to support Disney's proposal to halt participation in the HRC's Corporate Equality Index.
On August 6th, 2018, we entered the entrance to Walt Disney Studios in Burbank, California. (Lucy Nicholson/File/Reuters photo)
According to the HRC website, over 1,400 companies have been involved this year in the HRC Corporate Equality Index Survey.
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The board of directors of the entertainment giant had advised shareholders to file with the Securities and Exchange Commission (SEC) to “oppose the proposal” up to the shareholders' meeting.
Among the reasons why the Disney Commission offered its stance was its belief that “no added value to shareholders” and that the company “provides transparency on a wide range of issues for shareholders, including participation in external research.”
National The Center for Public Policy Research had proposed measures to allow Disney to move away from the HRC Index.
From July 13th, 2021, you will see the 3D printed Disney logo in front of the ESPN+ logo in this illustration. (Dado Ruvic/Illustration/File Photo/Reuters)
Disney's involvement in such divisive political issues alienated the audience segment and undermined the company's stock price. It urged investors to support their proposals. This says it offers Disney an opportunity to “go back to neutral.”
HRC has seen some well-known companies retreat from the corporate equality index over the past few months, including Ford, Harley-Davidson and Lowe's.
Disney shareholders also voted for several other items at their annual meeting.
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Each of the entertainment giants' managers has been re-electioned to its board. The committee consists of James Gorman, Mary Balla, Amy Chan, Jeremy Dalotch, Carolyn Everson, Michael Fromman, Bob Iger, Maria Elena Lagomasino, Calvin MacDonald and Delica Rice.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| dis | Walt Disney Co. | 98.85 | -1.45 |
-1.45% |
Shareholders rejected the proposal to publish a report revealing how retirement plan investments protect plan beneficiaries from investments in high carbon companies.
Investors voted against the proposal that asked Disney to issue a report assessing how it could assess risks related to discrimination against advertising buyers or sellers based on political or religious views.
The Walt Disney Company logo appears on your smartphone screen. (Photo illustrations by Jaque Silva/Sopa Images/Lightrocket/Getty Images)
Disney investors also rejected the proposal that asked the company to adopt a politically neutral advertising policy.
According to a Disney representative statement, shareholders on the record as of January 21 were eligible to vote at the annual meeting.
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The annual meeting took place for about a month and a half after Disney announced its financial results in the first quarter.
The entertainment giant generated $249.6 billion in revenue in the first quarter of 2025. Meanwhile, its net profit reached $2.55 billion.
Reuters contributed to this report.
