Disney (DIS) secured one more key backer in its high-profile battle towards activist investor Nelson Peltz.In a paper printed on Monday and seen by Yahoo Finance, proxy advisory agency Glass Lewis really helpful shareholders help the corporate’s present board and withhold votes for the nominees put forth by Peltz’s Trian Fund Administration and fellow activist Blackwells Capital.”We consider buyers can be finest served endorsing the incumbent administrators right now,” Glass Lewis wrote in its advice, including it is “not satisfied” the choice candidates and proposals would ship “a superior change relative to Disney’s present composition.”Peltz is presently looking for board seats for himself, together with former Disney CFO Jay Rasulo. Blackwells helps the corporate’s present board however has urged shareholders to vote for its three nominees as additions to it.If the proxy battle continues to a vote, a shareholder assembly set to happen on April 3 will in the end decide the board’s destiny.Final yr, Peltz and his hedge fund renewed a push to shake up Disney’s board because the inventory value hit multiyear lows.Disney has been grappling with challenges that embody a declining linear TV enterprise, slower progress in its parks enterprise, and losses in its streaming enterprise.Though Glass Lewis did level to these challenges, which have additionally included a high-profile political battle with Florida Governor Ron DeSantis and considerations surrounding succession, the agency mentioned CEO Bob Iger’s current initiatives to show across the enterprise have delivered constructive outcomes.”Most up-to-date reported quarters counsel these efforts do, certainly, have promise, which we consider considerably raises the bar for change right now,” Glass Lewis mentioned.Learn extra right here.