Michael Eisner Supports Iger in Disney Proxy Battle

Former CEO endorses current leadership as shareholders prepare for critical vote.

Michael Eisner, former CEO of Disney, has expressed his support for Bob Iger and the current Disney board amidst a proxy fight with activist investors led by Nelson Peltz.
Eisner's backing comes as Disney faces a crucial vote at its April 3 annual shareholders meeting, where investors will decide between Disney's slate of board candidates and those nominated by Peltz's Trian Partners and Blackwells Capital.
In his statement, Eisner recalled a similar situation in 1983 when corporate raiders attempted a takeover of Disney, emphasizing the importance of experienced leadership for the company's future.
Several major Disney shareholders, including George Lucas, Laurene Powell Jobs, and descendants of Walt Disney, have also shown their support for Iger and the company's board.
Despite this, the proxy advisory firm ISS has recommended that shareholders elect Peltz to the Disney board, citing concerns over Disney's CEO succession planning.