Summary SCREENRANT VIDEO OF THE DAY SCROLL TO CONTINUE WITH CONTENT George Lucas has backed Disney's board and CEO Bob Iger as a proxy battle looms, with activist investor groups trying to take seats on their board. Disney is currently facing pressure from two investment companies, Trian Partners and Blackwells Capital, who want to take seats on the company's board.
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 longtime 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.
Lucas' backing of Disney during this board battle makes sense, as his large investment in the company means he's influenced to support the side he knows will bring him a net positive. However, there's also the creative aspect of it, with Peltz himself saying he has no media experience despite wanting control over the board.
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