Abigail Disney, the heiress to the famed Disney family, who has since become vocal to the company is reportedly attempting to organize a shareholder challenge of embattled Disney CEO Bob Chapek’s $32.5 million payday.
According to TheWrap, Disney, who has pegged her personal net worth at $120 million, has been “quietly courting” institutional investors to challenge Chapek’s compensation at the company’s next shareholder meeting, which has yet to reveal a date.
The challenge would mark another publicized hit on Chapek, who has recently come under fire by some for missteps at the company. Abigail Disney has reportedly held at least three meetings in an effort to build support for the move, through which participants would reject or potentially seek to gain back some of Chapek’s large pay. She has argued that her name recognition would provide the company’s shareholders with a better chance in the fight at the meeting.
One source told TheWrap that the meetings have been preliminary, while another told the trade described their meeting as a very informal discussion that was very serious. “Fund managers run into each other at industry events all the time and talk shop,” one investor told the trade. “And Abigail wanted to know what they thought, what the mood was. She seemed mostly interested in if this was that perfect opportunity for something like this.”
It should be noted, Abigail Disney is not a major shareholder and is not in a position of management at The Walt Disney Company. Also, both a Disney spokesperson and Abigail Disney declined TheWrap’s request for comment on the report.