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George Lucas intervenes in the internal battle of Disney investors.
Star Wars and Indiana Jones Creator George Lucas backs CEO Bob Iger in Disney 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 of directors and shareholders to reject Peltz’s offer for a board seat. Investors say Disney has underperformed under Iger’s leadership despite challenges inherited from former CEO Bob Chapek amid the COVID-19 pandemic. Lucas is Disney’s largest individual investor following the company’s acquisition of Lucasfilm in 2012. The director highlighted his confidence in Iger’s leadership and Disney’s potential to create long-term value. He highlighted the importance of experience in “creating magic” and highlighted his admiration for the Disney brand and Iger’s career.
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In a statement provided to CNBC, Lucas said: “Creating magic is not for amateurs. When I sold Lucasfilm a little over a decade ago, I was thrilled to become a Disney shareholder. due to my long-standing admiration for their iconic brand and Bob Iger’s leadership. When Bob recently returned to the company during a difficult time, I was relieved. Nobody knows Disney better. I remain an important shareholder because I have Full faith and trust in the power of Disney and Bob’s journey. to generate long-term value. “I have voted all of my shares for Disney’s 12 directors and I urge other shareholders to do the same.”
Bob Iger has received support from influential figures such as the estate of Walt and Roy Disney along with 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 fielding three candidates.
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George Lucas supports Disney’s Bob Iger
George Lucas’ endorsement carries significant weight due to his substantial property 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 television channels, which he sees as in decline, while Iger is focused on streamlining operations and increasing profitability through the Disney+ streaming platform along with major restructuring efforts that include layoffs.
Disney’s future will depend significantly on the outcome of the April 3 investor vote.
Source: CNBC
Star Wars
The original trilogy represents Luke Skywalker’s heroic development as a Jedi and his fight against Palpatine’s Galactic Empire alongside his sister, Leia. The prequels tell the tragic backstory of his father, Anakin, who is corrupted by Palpatine and becomes Darth Vader.
- Created by
- jorge lucas
- The last movie
- Star Wars: Episode XI – The Rise of Skywalker
- First episode air date
- November 12, 2019
- Cast
- 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+
- Comic
- Star Wars: Revelations