George Lucas Endorses Bob Iger Amid Proxy Fight: “Creating Magic Is Not for Amateurs”
Despite once famously describing Disney as “white slavers,” Star Wars creator George Lucas is publically endorsing Bob Iger and the Disney board in their proxy fight against Nelson Peltz’s Trian Management and Blackwells.
“Creating magic is not for amateurs,” Lucas said. “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.”
Following his sale of Lucasfilm to Disney for $4 billion, Lucas became a major shareholder in The Walt Disney Company, lending even more weight to his public statement.
Lucas Was “Relieved” That Iger Returned
According to the legendary filmmaker, he was thrilled when Bob Iger returned to the company in November of 2022.
“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. I have voted all of my shares for Disney’s 12 directors and urge other shareholders to do the same.”
Lucas’s comment that “creating magic is not for amateurs” would seem to be a riff on Disney’s constant refrain that Nelson Peltz does not have media experience.
Growing Support For Iger
With his endorsement of the Disney CEO, Lucas now joins the grandchildren of Walt and Roy Disney, JPMorgan Chase CEO Jamie Dimon, and proxy advisory firm Glass Lewis in the choir of Iger supporters.
The showdown between Disney, Peltz, and Balckwells will come to a head at The Walt Disney Company’s annual meeting. That is scheduled to take place on April 3.
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