Disney Family Feud: Heirs Back Iger, Criticize Activist Investors

 

Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay.

The Walt Disney Company finds itself embroiled in a fascinating tug-of-war between its past and potential future. In February 2024, the grandchildren of both founders, Roy and Walt Disney, took a public stand, throwing their weight behind CEO Bob Iger and the current board of directors. This move directly contrasted with the efforts of activist investors seeking influence within the company.

Through separate open letters, the eight heirs voiced their concerns about "self-anointed" investors, painting them as a potential threat to the company's core values. They expressed fear that these investors, primarily motivated by short-term gains, could disrupt Disney's creative spirit and long-term vision. Conversely, the letters praised Iger's leadership, highlighting his ability to navigate various challenges and maintain a balance between artistic integrity and financial success.

This public intervention by the Disney family underscores the ongoing tension at the company between its rich history and the pressures of shareholder activism. While the ultimate outcome of this internal struggle remains to be seen, the involvement of the founders' descendants adds a unique and personal dimension to the ongoing saga of The Walt Disney Company.