MUMBAI: The Walt Disney Co held its 2025 annual shareholder meeting on Thursday, where CEO Bob Iger highlighted the company’s accomplishments and addressed a contentious anti-Diversity, Equity, and Inclusion (DEI) proposal.
Iger spoke enthusiastically from Walt Disney Imagineering's headquarters in Glendale, California, emphasizing the firm’s unique blend of creativity and technological innovation. This combination, he stated, has distinguished Disney throughout its history. "Thanks to modern technology, there's never been a better time to be a storyteller," he said, reflecting on the company’s ongoing success.
The annual meeting also showcased Disney's significant performance at the global box office in 2024. Iger proudly announced that key franchises, such as Pixar's Inside Out 2, Marvel's Deadpool & Wolverine, and Walt Disney Animation Studios’ Moana 2, dominated the box office, securing the top three spots. He described the past year as "outstanding" and credited the reorganization of the company's approach that restored creativity to the core of its studios.
Furthermore, Disney’s critical success saw the company earn 60 Emmy Awards, led by Shogun and The Bear, and 15 Oscar nominations, including a notable Best Supporting Actor win for Kieran Culkin in A Real Pain. Looking forward, Iger hinted at a sequel to Coco, the beloved 2017 Academy Award-winning film, which is already in its early stages and promises to be full of humor, heart, and adventure.
As Iger dazzled shareholders with current achievements and upcoming projects, he also outlined developments in Disney's Experiences segment. "Right now, we have more projects underway around the world than at any time in our history," he exclaimed, highlighting that the Magic Kingdom is undergoing its largest expansion ever, introducing areas inspired by Cars and a new Villains-themed land.
The anticipation builds with a first-of-its-kind vertical lift coaster being introduced in a brand-new Monsters Inc. themed land in Hollywood Studios. Meanwhile, the company plans a Tropical Americas land at Disney's Animal Kingdom, showcasing attractions based on Encanto and Indiana Jones. Even the Disney Cruise Line is expanding, intending to double the capacity of its service, claiming it will reach more families around the globe.
Iger didn’t shy away from addressing Disney’s contributions to social causes, announcing a commitment of $15 million to recovery efforts following the devastating wildfires in Southern California. He underscored Disney’s role in community service, stating, "We remain the No. 1 wish-granter in the world for children facing critical illness; on average, Disney grants a child's wish every hour of every day," a sentiment that resonated warmly with the shareholders present.
However, the meeting was also marked by a significant pushback against an anti-DEI proposal that urged the company to withdraw its participation in an LGBTQ+ survey. Presented by the National Center for Public Policy Research, the proposal garnered only 1% of the vote, reflecting a strong consensus among shareholders who largely support Disney's current stance on LGBTQ+ inclusivity.
The organization contended in its proxy statement that Disney's perfect score in the Corporate Equality Index from the Human Rights Campaign was indicative of a "partisan, divisive, and increasingly radical" approach that doesn’t add value to shareholders. Despite these claims, many stakeholders, including organizations like the Human Rights Campaign, praised the inclusive policies. Eric Bloem, vice president of corporate citizenship at the Human Rights Campaign Foundation, remarked, "This vote gives us a clear statement of values from Disney’s shareholders. We know that 93% of LGBTQ+ workers believe that scoring 100 on the Corporate Equality Index communicates support of the LGBTQ+ community – those are current and future employees and customers. Disney shareholders recognize this."
Stefan Padfield, executive director of the NCPPR’s Free Enterprise Project, attributed the proposal’s lack of support to what he views as bias among institutional shareholders and company management. He noted, "It is not surprising that our proposal received low support, given the concerns we have about bias and conflicts of interest infecting the votes and recommendations of the Big 5 asset managers and proxy advisors, as well as the company’s management."
This rejection of the anti-DEI proposal comes amid wider corporate America grappling with resistance to linking their brands with political issues related to LGBTQ+ rights, particularly following backlash incidents involving other companies like Bud Light and Target. The ongoing change in sentiment demonstrates the complexities facing corporations striving to balance business interests with social advocacy amidst a politically charged environment.
As Disney rolls forward with its innovative projects and commitment to inclusivity, the company's leadership, including Iger, is clear on their direction. By merging impactful storytelling with advanced technology, Disney aspires to retain its status as a leading entertainment powerhouse, poised for a future that blends creativity with a commitment to social responsibility.
