Steve Jobs’s Widow Laurene Powell Jobs Backs Bob Iger in Proxy Fight
On the same day that The Walt Disney Company was dealt a blow when the influential shareholder firm ISS endorsed Nelson Peltz in his proxy fight with the company, Bob Iger picked up another endorsement of his own.
Laurene Powell Jobs, the widow of Steve Jobs, released a statement today urging shareholders to vote for Disney’s slate of candidates in the upcoming board election.
“My family and I have been significant investors in The Walt Disney Company for nearly two decades, and in that time, we have seen the company transformed thanks to the steady and visionary leadership of Bob Iger and Disney’s expert Board of Directors,” Powell Jobs wrote. “What has always set Disney apart is the way it combines unbridled creativity with technological innovation to tell timeless stories—stories that inspire and enrich the world around us.
“There is no one who understands Disney’s important legacy or the responsibility to protect it more than Bob Iger,” she continued.
“He is a once-in-a-generation leader with an ambitious vision for the future, and we as shareholders are fortunate to have him guiding this cherished company at such a crucial moment in its history. I urge my fellow shareholders to support Bob and the company’s slate of highly qualified Director nominees.”
Jobs and Disney Have a Long History
Following Disney’s $7.4 billion acquisition of Pixar in 2006, Steve Jobs became the largest shareholder in Disney. Today’s statement by Powell, suggests that the Jobs family still holds a significant number of shares.
Bob Iger and Steve Jobs were also close friends. Jobs would eventually sit on the Disney board, while Iger joined the Apple board until the launch of Disney+.
Iger Racks Up Endorsements
In the last few weeks, Iger has now secured the support of George Lucas, former president of Walt Disney Imagineering Bob Weis, CEO of JPMorgan Chase Jamie Dimon, and influential proxy voting advisory firm Glass Lewis.
The final showdown between Disney and Peltz will take place at The Walt Disney Company’s annual meeting on April 3.
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