George Lucas Supports Disney’s Bob Iger in Ongoing Proxy Fight

), Lucas praised Iger for his leadership and vision at Disney and backed the current 12 members of Disney’s board of directors.

“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,” Lucas said in a statement Tuesday. “When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better.

While it’s unclear exactly how much stock in Disney Lucas owns, when he sold Lucasfilm and the Star Wars rights to Disney for $4 billion in 2012, it reportedly included about $1.8 billion in stock.— the chairman of the board of director’s of Wendy’s — and his Trian Partners management firm looking to put Peltz and former Disney CFO Jay Rasulo on the board of directors at Disney.

Another activist, Jason Aintabi’s Blackwells Capital, is also looking to put three directors of its own on the board., Peltz’s bid is backed by former Marvel chairman Ike Perlmutter . The Institutional Shareholder Services — a major influence in Disney’s last proxy battle 20 years ago — is said to be making its recommendation for votes sometime next week ahead of the annual board meeting for the company on April 3, 2024.

While Disney is no stranger to proxy battles in the past, this time the current board has unilateral support for the Disney family. Earlier this month, the children of Roy E. Disney released a statement calling Peltz and Aintabi “wolves in sheep’s clothing, just waiting to tear Disney apart if they can trick shareholders into opening the door for them.”Anthony Nash has been writing about games and the gaming industry for nearly a decade.

Source: Entertainment Trends (entertainmenttrends.net)

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