Disney Family Rallies Around Bob Iger, Condemns Activist Investors as 'Wolves' Seeking to Undermine Company's Legacy
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Walt Disney's grandchildren and great-nephews/nieces wrote open letters supporting CEO Bob Iger and current management against activist investors trying to get board seats.
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They said Iger understands the "Disney magic" and called the activist investors "wolves in sheep's clothing" looking to "strip the company to the bone."
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They recalled a prior activist investor's unsuccessful hostile takeover attempt 40 years ago and said current activists must be similarly defeated.
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They praised management's strategy and said the company is "home to thousands of dedicated employees who share the same passion" as Walt and Roy Disney.
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They portrayed it as a battle between heroes who cherish Disney's legacy and villains motivated by self-interest who cannot be trusted as stewards.