Part 4/8:
Iger’s Response and the Efforts to Maintain Power
Bob Iger, meanwhile, refused to cede ground. He responded by enlisting support from strategic investment firms such as Value Act Capital Management, which agreed to back Disney’s slate of board nominees in 2024’s shareholder meetings. Disney striking a deal with Value Act appeared to be a clear move to preempt Peltz’s activism, effectively promising inside access in exchange for support.
Disney also made strategic moves to reshape its board, appointing notable figures like former Morgan Stanley CEO James Gorman and ex-Sky CEO Jeremy Darroch. However, it also continued to shuffle its board seats, ostensibly to add allies and block activist attempts—yet critics remain skeptical about the sincerity of these moves.