Michael Eisner Backs Disney CEO Iger Amid Board Fight With Activist Investors: ‘The Company Is Now in Excellent Hands’

variety.com:

Todd Spangler NY Digital Editor Michael Eisner, the former Disney CEO who exited the company in 2005, is the latest member of the extended Disneyverse to weigh in with support for current chief exec Bob Iger, who’s facing a proxy fight with activist investors including Nelson Peltz in a vote for board candidates at Disney’s April 3 annual shareholders meeting. “[I]n 1983, Disney was under attack by corporate raiders trying to take over the company,” Eisner wrote in a post on X, referring to the unsuccessful attempt by financier Saul Steinberg to stage a hostile takeover of the company. “That would have ended the Disney Company as we know it, for the studio, theme parks, and hotels were suggested to be sold off.

The board turned to me and Frank Wells, and a different story was written, one that was continued by Bob Iger and his executive team.” Eisner continued, “Today, a similar situation exists, so let’s remember the lessons from 40 years ago.

Bringing in someone who doesn’t have experience in the company or the industry to disrupt Bob and his eventual successor is playing not only with fire but earthquakes and hurricanes as well.

The company is now in excellent hands and Disney shareholders should vote for the Disney slate.” Eisner served as CEO of Disney from 1984 and announced his plans to step down from the role in 2004 before he officially resigned in September 2005..