Disney Family Casts Activist Investor as the Villain

The descendants of Walt Disney and his brother, Roy O. Disney, have spoken out about the ongoing battle between two activist investment firms and the Walt Disney Co. The Disney family members are in support of CEO Bob Iger and the current board, and are not in favor of the rival board candidates. Apparently, the candidate slates will be up for a vote at the annual shareholders meeting on April 3.

The proxy-fight battle has been going on for a while now, and it seems like activist investor Nelson Peltz, who runs hedge fund Trian Partners, is trying to drive up the price of Disney's stock. He's trying to install himself and ex-Disney CFO Jay Rasulo as directors. On the other hand, another investment firm, Blackwells Capital, supports the leadership of CEO Bob Iger and the current board, but is urging Disney shareholders to vote for its own three candidates instead of Disney’s or Trian’s nominees.

Disney has opposed the candidates put forward by Trian and Blackwells, stating they're not talented enough. They want shareholders to vote for its own 12 nominees. The ongoing proxy-fight battle is pretty intense, and everyone is watching to see what happens next.

Recently, grandkids of Walt and Roy Disney issued two separate open letters to Disney shareholders supporting Iger and the current board and opposing the rival board candidates. The signatories include filmmaker Abigail E. Disney, who's had beef with the company in the past.

The family members have criticized the rival board candidates for their "I alone can fix it" mentality and lack of knowledge about what Disney truly means to people. They want shareholders to vote for the current board and management team. The family members have emphasized that the Disney stories are filled with heroes and villains, and they know who the villains are in this story. They've stated that the rival board candidates cannot be trusted with protecting this company’s rich legacy or guiding its bright future.

Disney has set up its own proxy-vote campaign site at votedisney.com to get shareholder support. They're committed to driving meaningful growth and creating sustainable shareholder value long into the future. But two activist hedge funds, Trian Fund Management, L.P. and Blackwells Capital, are trying to replace members of Disney's board with their own separate nominees, none of whom the current board believes have what it takes to effectively support Disney’s building priorities in the face of continuing industry-wide challenges. Definitely not a fairytale situation here!

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