(MT Newswires) -- Bob Iger, head of Walt Disney, has won a significant victory in a proxy battle, cementing his status as a dominant figure in Hollywood. The win caps a tough and expensive campaign for Disney, which spent $40 million to convince investors to back the current management team. 

But the issues raised by Peltz, such as the difficulty of producing successful films and the succession dilemmas within Disney management, persist. Bob Chapik, Iger's predecessor, only held the reins for two years, and Iger's return has yet to bring lasting solutions to these issues.

Under Iger, Disney is embarking on major reforms, including staff cuts and an ambitious investment plan in theme parks, which are vital to the company's revenues. Disney plans to inject $60 billion into its parks.

Despite these obstacles, Disney's fundamentals are robust. The company anticipates a 20% increase in profits for the current year, signalling positive momentum. Strategic investments and adapting to new consumer habits, particularly streaming, are crucial to Disney's future. Efforts to modernise ESPN and collaborate with streaming rivals underline Disney's commitment to remain at the forefront of the entertainment industry.

Bloomberg videos