In a significant show of support, the family of Walt Disney and the heirs of brother Roy Disney have joined forces to back Disney CEO Bob Iger in his ongoing battle with activist investor Nelson Peltz and Trian Fund Management.

Ahead of the April annual meeting, the Disney family released two letters to shareholders, urging them to stand firm and ignore Peltz's demands. Peltz is seeking two board seats, citing dissatisfaction with Disney's stock performance and a lack of succession planning for Iger, who has announced his retirement in 2026. Additionally, Peltz aims to cut costs, adjust executive compensation levels, and reinstate the stock dividend.

Describing Peltz and other activists as "wolves in sheep's clothing," the Roy Disney heirs expressed concerns that they may "tear Disney apart" if given the opportunity. They emphasized that Disney is more than just a company that manufactures products; it creates magic and requires leaders who deeply understand and respect this tradition.

One prominent signatory of the letter was Abigail Disney, who has previously criticized Iger harshly. However, the family's collective support for Iger sends a strong signal of unity behind the current CEO.

The letter from the Walt Disney family reiterated their confidence in Iger's leadership, commending his ability to grow the company in a rapidly evolving world while maintaining a delicate balance between creativity and profitability.

This is not the first time Peltz has attempted to secure a position on Disney's board of directors. A year ago, he relented after the company announced plans to reduce costs by $5.5 billion, leading to significant layoffs and changes to the streaming service.

Disney has argued against Peltz's nomination, asserting that he lacks the necessary experience in the media and tech sectors, mainly coming from the consumer packaged goods industry.

The heirs of Roy Disney were more direct in their criticisms of Peltz, labeling him as one of the villains in the Disney story and alleging that he would jeopardize the company's rich legacy and promising future.

As the battle between Iger and Peltz intensifies, the support from the Disney family adds further weight to the CEO's position. With the annual meeting looming, shareholders will soon have to make a crucial decision that could shape the future of the company.

Disney's reputation for enchanting storytelling and unparalleled experiences hangs in the balance as this high-stakes battle unfolds.