The Stand Against Activist Investors
Descendants of Disney founders Walt Disney and Roy Disney have voiced their support for CEO Bob Iger and the company’s board while condemning activist investors attempting to influence the company’s management.
Current Events
The four grandchildren of Roy Disney – Roy P. Disney, Susan Disney Lord, Abigail E. Disney, and Tim Disney – penned an open letter expressing concerns over the activist investors’ interference with Disney’s strategies and decision-making processes, as reported by Reuters. This dissent coincides with the ongoing proxy war involving billionaire Nelson Peltz advocating for changes within the company.
War of Words
In a direct response to Peltz’s actions, the grandchildren of Walt Disney – Walter Elias Disney Miller, Tamara Diane Miller, Jennifer Miller-Goff, and Joanna Sharon Miller – publicly stood by Iger and the company’s board, firmly opposing the nominations proposed by the activist investor.
Rejection of Board Nominations
The Disney heirs’ vocal endorsement of Iger carries substantial weight in the ongoing battle within Disney. This move serves as a stern rebuke to activist investors aiming to sway the company’s direction, exemplified by Iger’s recent dismissal of board nominations put forth by Peltz.
Significant Support
Peltz’s Trian Fund Management made headlines in January by suggesting the replacement of two Disney directors and questioning the company’s investment strategies. Disney responded with a detailed defense of their plans. Despite positive company announcements in February, Peltz continued to criticize Disney’s management. The unwavering support from the Disney heirs towards Iger and the company’s leadership provides a crucial boost in this ongoing struggle for control.
