Disney Heirs Oppose Activist Investors' Board Takeover Bid to Preserve Company's Legacy
• Activist investors, led by Nelson Peltz, are attempting to gain seats on Disney's board and make changes, but Walt and Roy Disney's heirs oppose them.
• The heirs call the activist investors "hedge-fund-backed opportunists" not interested in preserving Disney's legacy and magic.
• Peltz has criticized Disney for over-compensation, lack of succession planning, the Fox acquisition, box office bombs, and streaming losses.
• Disney recently reported stronger earnings, sending stock prices surging, but Peltz renewed efforts to shake up the boardroom.
• The activist fight will culminate at Disney’s shareholder meeting in April, with the Disney heirs staunchly supporting Bob Iger and the current management.