George Lucas weighs in on the internal investor battle at Disney.

Star Wars And Indiana Jones creator George Lucas backs CEO Bob Iger in Disney’s investor battle.



In the ongoing investor battle between The Walt Disney Company and investor Nelson Peltz, legendary filmmaker George Lucas has thrown his support behind Disney CEO Bob Iger. Lucas wrote a statement urging the board and shareholders to reject Peltz’s bid for a board seat. Investors argue that Disney has underperformed under Iger’s leadership despite challenges inherited from former CEO Bob Chapek during the COVID-19 pandemic. Lucas is Disney’s largest individual investor following the company’s acquisition of Lucasfilm in 2012. The director emphasized his confidence in Iger’s leadership and Disney’s potential for long-term value. He emphasized the importance of expertise in “creating magic” and emphasized his admiration for the Disney brand and Iger’s track record.


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In a statement to CNBC, Lucas stated: “Creating magic is not for amateurs. When I sold Lucasfilm a little over a decade ago, I was happy to become a Disney shareholder because of my long-standing admiration for Bob Iger’s iconic brand and leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a major shareholder because I did that complete confidence in the strength of Disney and Bob’s track record of generating long-term value. I voted with all my shares for the twelve directors of Disney and urge other shareholders to do the same.”


Bob Iger has received support from influential figures such as Walt and Roy Disney’s heirs, in addition to JPMorgan Chase CEO Jamie Dimon. As the April 3 shareholder vote approaches, the battleground is heating up with investors like Brian Partners nominating Peltz and former Disney CFO Jay Result, while Blackwells Capital is putting forward three candidates.

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George Lucas endorses Disney’s Bob Iger

George Lucas’ endorsement carries significant weight due to his significant ownership and iconic status in Hollywood. Lucas is known as the creative genius behind the Star Wars And Indiana Jones franchises, as well as a pioneer in digital film editing and computer-generated imagery. Nelson Peltz is an American billionaire investor who holds chairman positions at Wendy’s Company, Sysco and The Madison Square Garden Company.


Peltz aims to reshape Disney’s traditional TV channels, which he says are in decline, while Iger focuses on streamlining operations and increasing profitability through the Disney+ streaming platform, in addition to significant restructuring efforts, including layoffs .

Disney’s future will be significantly determined by the outcome of the April 3 investor vote.

Source: CNBC

A portrait image of the classic franchise banner with the Star Wars logo

Star Wars

The original trilogy shows the heroic development of Luke Skywalker as a Jedi and his fight against Palpatine’s Galactic Empire together with his sister Leia. The prequels tell the tragic backstory of their father, Anakin, who is corrupted by Palpatine and becomes Darth Vader.

Created by
George Lucas

Latest movie
Star Wars: Episode XI – The Rise of Skywalker

Air date of first episode
November 12, 2019

Form
Mark Hamill, Carrie Fisher, Harrison Ford, Hayden Christensen, Ewan McGregor, Natalie Portman, Ian McDiarmid, Daisy Ridley, Adam Driver, Rosario Dawson, Pedro Pascal

Where to stream
Disney+

Funny
Star Wars: Revelations


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