Family Of Walt Disney Supports Bob Iger In Company’s Proxy Fight With “Hedge Fund-Backed Opportunists”

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Published on 2/29/24 by Deadline

In an intense proxy fight involving the Walt Disney Company, members of the Disney family have publicly declared their support for CEO Bob Iger and the current management against investment firms attempting to alter the company’s board composition. Roy P. Disney, Susan Disney Lord, Tim Disney, and Abigail Disney emphasized Disney’s unique role in creating magical experiences rather than mere products. They recalled past challenges, notably a hostile takeover attempt by Saul Steinberg, which they likened to the current situation with Nelson Peltz of Trian Partners and Blackwells Capital’s board nominations.

The Disney family stressed the importance of maintaining the company’s integrity and the legacy of creativity and innovation established by Walt Disney and Roy O. Disney. They urged shareholders to support the current board, highlighting the management’s success in navigating the company through modern challenges while preserving its foundational values and connection with audiences worldwide.