Disney Grandchildren Slam Activist Investors in Letters to Company Shareholders: ‘We Know Who the Villains Are in This Story’
variety.comTodd Spangler NY Digital Editor The descendants of Walt Disney and his brother Roy O. Disney have weighed in on the bid by two activist investment firms to win seats on the board of the Walt Disney Co.
Nelson Peltz, the activist investor who runs hedge fund Trian Partners, is waging a proxy-fight battle to install himself and ex-Disney CFO Jay Rasulo as directors; Peltz’s stated aim is to drive up the price of Disney’s stock.
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 opposes the candidates put forward by Trian and Blackwells as lacking “the appropriate range of talent, skill, perspective and/or expertise,” and is urging shareholders to vote for its own 12 nominees.
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