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Disney and its present CEO, Bob Iger, have secured the backing of Iger’s onetime boss, former Chairman and CEO Michael Eisner.
In a remark posted to social media, Eisner didn’t title Nelson Peltz, whose Trian Fund Control is mounting an offensive to win two seats on Disney’s board on the April 3 annual shareholder assembly. However the longtime media exec wrote that “bringing in somebody who doesn’t have enjoy within the corporate or the trade to disrupt Bob and his eventual successor is enjoying now not best with hearth however earthquakes and hurricanes as smartly.”
Eisner recalled a an identical skirmish in 1983, simply previous to the beginning of his two-decade run as chairman and CEO, when “company raiders have been seeking to take over the corporate.”
Had that incursion been allowed, he persevered, “that might have ended the Disney Corporate as we realize it, for the studio, theme parks, and accommodations have been instructed to be bought off.” As a substitute, as soon as Eisner and most sensible exec Frank Wells have been put in to run the corporate, “a other tale used to be written, person who used to be persevered by means of Bob Iger and his government workforce.”
Eisner mentioned “classes from 40 years in the past” must be implemented to the placement confronted by means of the corporate lately. “The corporate is now in very good palms and Disney shareholders must vote for the Disney slate.”
Numerous potent supporters, together with Disney members of the family, George Lucas and Laurene Powell Jobs, have sponsored Iger and the corporate’s slate of board nominees. Peltz has now not garnered just about as a lot public confirmation, although this week Trian were given a large win when influential proxy advisory company ISS put its weight in the back of the activist bid, mentioning Disney’s stumbles with CEO succession.
Here’s the total remark:
See moreAs I informed @nytimes @dealbook, in 1983, Disney used to be underneath assault by means of company raiders seeking to take over the corporate. That may have ended the Disney Corporate as we realize it, for the studio, theme parks, and accommodations have been instructed to be bought off. The board became to me and Frank…
— Michael Eisner (@Michael_Eisner) March 22, 2024
