Disney CEO Bob Iger prioritizes defending the company over himself in proxy battle

Walt Disney Company CEO Bob Iger insisted that he was focused on defending the company in a recent proxy fight and that it was not personal.

The fight in question revolved around billionaire Nelson Peltz’s effort to shake up Disney’s board, hoping to get a seat on it for himself. When asked about the failed attempt to shake up leadership, Iger told CNBC’s Squawk on the Street that he had no personal interests in fending off Peltz, and instead was focused on helping the company.

“On my side, not, meaning I was supporting the interests of the company, not my personal interests, and defending what the company and the board was doing. as opposed to defending myself against criticism from Nelson and the people who are backing him,” Iger said.

Iger delved more into the decision to reject Peltz’s request for a board seat, explaining that he himself did not feel that it was necessary, nor did any of the other board members. He also argued that Peltz did not bring “any new ideas” to the company, nor would he have had an impact on the company that would be considered positive.

The Disney CEO was also questioned about the criticism he regularly receives from X owner Elon Musk, who has spoken out against Iger several times in recent months. Iger says he simply ignores Musk’s comments and chooses not to “get distracted by those things.”

Disney’s feud with the Florida government was also addressed in the interview, which recently saw both the Central Florida Tourism Oversight District board and Disney reach a settlement with the legal battles between Disney and Florida. Iger said he hopes there will be no further conflict between the company and the state, though he admitted he could not speak for Gov. Ron DeSantis (R-FL).

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The settlement ended a back-and-forth fight between Disney and Florida after the company spoke out against the Parental Rights in Education Act in March 2022. After speaking out against this law, DeSantis argued the company’s statement crossed a line and worked to restructure the Reedy Creek Improvement District.

The settlement reached last month dismissed the claims in state court, including a public records case brought by Disney against the district, according to a summary offered by the district during a board meeting on Wednesday.