Walt Disney said Tuesday it “does not endorse” the candidates nominated by activist shareholders in a preliminary proxy filed with the Securities and Exchange Commission. Disney Chief Executive Bob Iger, in a letter to investors, said the company has embarked on an “unprecedented transformation,” making management changes and streamlining operations to become more cost-efficient. It is on track to achieve roughly $7.5 billion in cost reductions – about $2 billion more than it originally targeted. Iger said Disney has prioritized making its streaming business profitable, turning ESPN, its sports media brand, into the “preeminent”…
