Disney's heirs have issued open letters to shareholders, throwing their support behind CEO Bob Iger and condemning activist investors, including Nelson Peltz, as detrimental to the company's future.

The letters, signed collectively by eight Disney heirs, including Abigail Disney, emphasized Iger's fidelity to Disney's "magic" and his role in advancing the company in a modern context. They criticized investors like Peltz for seeking to undermine Disney's legacy by pursuing self-serving agendas.

Peltz's Trian Fund Management, which holds approximately $3 billion in Disney stock, has criticized Disney's leadership and is seeking positions on the board. 

The clash between Iger and Peltz intensified following Disney's strong earnings report in early February, as reported by Nasdaq.

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Why Disney Heirs Showed Their Support

The heirs invoked the spirit of Walt and Roy O. Disney, highlighting their dedication to storytelling and emotional connection with audiences worldwide. 

They warned against allowing "activist investors" to dismantle the company's legacy, citing historical attempts by corporate raiders to break apart Disney.

"We may not agree about everything, but we know that our grandfather would be especially proud of what Disney means to the world today. We also know that, like us, he would be very concerned by the threat posed by self-anointed "activist investors" who are really wolves in sheep's clothing, just waiting to tear Disney apart if they can trick shareholders into opening the door for them."

The letters underscored the importance of preserving Disney's values and legacy, emphasizing the need for leadership that values storytelling and emotional connection over short-term profit motives. 

They urged shareholders to support Iger and the current board, rejecting Peltz's nominations.

By aligning themselves with Disney CEO Bob Iger and the current board, the heirs emphasized their commitment to upholding the integrity and vision of Walt, Ensuring that the company continues to inspire and entertain audiences for generations to come.

"With this gratitude, what the company does and how Walt Disney is represented matters to us.

As such, we support Bob Iger and The Walt Disney Company Board."

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