With calls for a strategy change, Disney is set to face criticism

Disney's shareholders have a decision to make this week: they can back the company's management or they can back a billionaire activist investor who is demanding reform.

This week, investors in the Hollywood behemoth Disney must choose whether to support the company's leadership or to support a billionaire activist investor who is calling for change. The Magic Kingdom is facing challenges because of its poor box office performance, costly streaming venture, and uncertain future for its legacy TV division. In light of this, Disney CEO Bob Iger is battling to convince investors that he has the ideal mix of people in place to turn around the entertainment company. Calls for a shake-up in the boardroom will be put to a vote at their annual meeting on Wednesday.

The investment mogul Nelson Peltz has been fighting for two seats on Disney's board for months, claiming the business hasn't done enough to address the company's declining profits, reputation, and stock price. Peltz's 81-year-old allies have questioned Iger's 73-year-old plan to bring the corporation around and set the stage for the next generation of leaders. Iger, former CEO from 2005–2020, replaced Bob Chapek as park and resorts manager. However, Chapek was fired two years later due to Wall Street performance concerns, and Iger was subsequently called out of retirement.

As the proxy battle intensifies, influential figures like George Lucas, Steve Jobs' widow, Laurene Powell Jobs, Michael Eisner, former Disney CEO Jamie Dimon, and other Disney family members have supported Iger, along with other Disney family members.