Ancora Advisors has argued fellow activist investor Nelson Peltz would help Disney’s turnaround efforts and it is “the right addition at this key moment in time” while also taking aim at Blackwells Capital for campaigning against the veteran hedge fund manager.

“A degree of shareholder-driven change is certainly warranted in Disney’s boardroom following an extended period of absentminded governance, ineffective succession planning, polarizing actions and sustained value destruction,” wrote Ancora CEO Frederick DiSanto and portfolio manager James Chadwick in an open letter Tuesday.

Ancora said Trian Fund Management founder Peltz, or a ‘‘qualified’’ designee, would make a ‘‘fantastic addition’’ to Disney’s board, giving shareholders a voice in the entertainment giant’s ”complex transformation that includes an optimization of the streaming segment, a direct-to-consumer pivot for ESPN, the evolution of the company’s film studios and a growth plan for parks.”

Last week, Trian announced plans to run a proxy contest at Disney after seeing its request for board representation, including a seat for Peltz, rebuffed by the company. Trian welcomed two recent board appointments but said more needs to be done to ensure the company moves to prop up its value.

“Since we gave Disney the opportunity to prove it could ‘right the ship’ last February, up to our reengagement weeks ago, shareholders lost approximately $70 billion of value,” the activist – which owns roughly $3 billion worth of Disney stock – said on November 30.

Shortly after Trian’s statement, activist fund Blackwells said it was “concerned that Trian’s campaign prioritizes Mr. Peltz’s ego over what is best for all Disney shareholders,” adding that replacing sitting Disney directors with Trian nominees “would deprive shareholders of valuable, experienced voices in the boardroom at a critical time in the company’s history.”

In its Tuesday letter, Ancora called Blackwells’ intervention a ‘‘self-serving publicity stunt’’ and suggested that the attack by Jason Aintabi’s firm was tied to a campaign reportedly in preparation at fast food chain Wendy’s, where Peltz serves as chairman and is the largest shareholder.

Disney shares were slightly down at $91.43 each as of 9:48 a.m. EST Tuesday.