George Lucas, the creator of “Star Wars” and founder of Lucasfilm, has expressed support for The Walt Disney Company CEO Bob Iger amid proxy fights with Trian’s Nelson Peltz and Blackwells Capital.
George Lucas Supports Bob Iger
Lucas sold Lucasfilm to Disney in 2012, during Iger’s first tenure as CEO of the company. Disney has since made several “Star Wars” films and Disney+ shows, as well as a final “Indiana Jones” film.
Lucas issued the following statement on Tuesday.
Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago. I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger’s leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob’s track record of driving long-term value. I have voted all of my shares for Disney’s 12 directors and urge other shareholders to do the same.
George Lucas
Disney has also received support from Walt and Roy Disney’s grandchildren, proxy advisory company Glass Lewis, and JPMorgan Chase CEO Jamie Dimon.
Trian Partners nominated Nelson Peltz and former Disney CFO Jay Rasulo for the Disney Board of Directors. In a white paper of recommendations for Disney, Trian stated, “In our view, Disney’s strategic missteps and declining financial performance can be laid at the feet of its Board, which we believe lacks focus, alignment and accountability.”
Blackwells Capital nominated former Warner Bros. and NBCUniversal executive Jessica Schell, Tribeca Film Festival co-founder Craig Hatkoff, and TaskRabbit founder Leah Solivan. Their suggestions include more use of AI.
Disney has urged shareholders not to vote for Trian’s or Blackwells’ nominees. The media giant has nominated their own current Board members. Votes will be tallied and results announced at the annual shareholders meeting on April 3, 2024.
For the latest Disney Parks news and info, follow WDW News Today on Twitter, Facebook, and Instagram.