The grandchildren of Walt and Roy Disney, founders of Walt Disney Co (DIS.N), have voiced their support for CEO Bob Iger and the company’s board, while opposing activist investors seeking to influence Disney’s direction.
In an open letter addressed to Disney shareholders, the descendants expressed concerns about the potential disruption caused by what they termed “self-anointed” activist investors, cautioning against their intentions to dismantle the company.
Emphasizing the importance of continuity in the strategies implemented by Bob Iger and his team, the grandchildren highlighted the risks posed by individuals driven solely by self-interest. They warned against allowing external forces to undermine Disney’s long-term vision and success, characterizing activist investors as “wolves in sheep’s clothing” threatening the company’s integrity.
In a unified stance, the descendants of both Roy and Walt Disney affirmed their support for Bob Iger and the company’s board, rejecting the nominations proposed by activist investor Nelson Peltz.
Source: Reuters