More and more hats continue to get thrown into the ring of the ongoing proxy fight for the future of The Walt Disney Company and its Board of Directors. This week has seen Josh Gad, former Walt Disney Imagineering President Bob Weis, and former Disney CEO Michael Eisner all join the fray and voice their support for Disney CEO Bob Iger and Disney’s Board. On the flip side, Institutional Shareholder Services supported part of activist investor Nelson Peltz and his Trian Group’s push to add two members to Disney’s board.
“My family and I have been significant investors in The Walt Disney Company for nearly two decades, and in that time, we have seen the company transformed thanks to the steady and visionary leadership of Bob Iger and Disney’s expert Board of Directors,” Powell Jobs wrote. “What has always set Disney apart is the way it combines unbridled creativity with technological innovation to tell timeless stories—stories that inspire and enrich the world around us.”
“There is no one who understands Disney’s important legacy or the responsibility to protect it more than Bob Iger,” she continued. “He is a once-in-a-generation leader with an ambitious vision for the future, and we as shareholders are fortunate to have him guiding this cherished company at such a crucial moment in its history. I urge my fellow shareholders to support Bob and the company’s slate of highly qualified Director nominees.”
Powell Jobs, the widow of Steve Jobs, is a world renown philanthropist and the founder of the Emerson Collective. At one point, Jobs was the largest shareholder of Disney stock. This came after Disney acquired Pixar (which Jobs founded) for $7.4 billion in 2006. This statement seems to indicate that the family still holds a significant number of shared. It is unknown how much they have, however. Currently, George Lucas is the largest single shareholder of Disney stock.
The statement from Powell Jobs comes as the proxy fight between Nelson Peltz and his Trian Group and Disney continues to escalate ahead of Disney’s annual shareholder meeting on April 3, 2024. This is the date that will ultimately determine the outcome of this proxy fight that has continued to grow more vocal. Daps Magic will continue to follow this story and provide updates as they become available.
What do you think about Laurene Powell Jobs supporting Bob Iger and the Disney Board of Directors? Do you think it will make a difference? How do you think this proxy fight will turn out? Share your thoughts and opinions in the comments below!
