In a show of solidarity, Star Wars creator George Lucas has come out in support of Disney CEO Bob Iger amidst an ongoing proxy fight with activist investors. As Disney’s largest individual shareholder, Lucas emphasized his unwavering faith in Iger’s leadership and the long-term value of the company.
Lucas, who acquired 37.1 million Disney shares when Disney acquired Lucasfilm in 2012 for $4 billion, has thrown his weight behind Iger as activist investor Nelson Peltz of Trian Partners raises concerns about Disney’s stock performance. Peltz is urging for new strategies for growth and is seeking to replace current board members at the upcoming shareholder meeting on April 3.
Disney has pushed back against the activist investors’ candidates, arguing that they lack the necessary expertise and perspective to guide the company in the right direction. Lucas, however, is urging shareholders to re-elect the current board members to support Disney and Iger’s leadership.
The shareholder meeting will determine the fate of Disney’s board members, with activist investors vying for control. With tensions running high, it remains to be seen how the shareholders will vote and what the future holds for Disney under Iger’s leadership. Stay tuned for more updates as this story develops on the McCreary County Record.
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