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Legendary filmmaker George Lucas, known for creating the iconic Star Wars franchise, has stepped into the spotlight once again. This time, it’s not for his cutting-edge special effects or captivating storytelling, but for his support of Disney and CEO Bob Iger in their ongoing battle with activist investor Nelson Peltz.
Lucas, who became a significant Disney shareholder after selling his company Lucasfilm to the entertainment giant in 2012, has publicly expressed his confidence in Disney and Iger’s ability to lead the company. This is a significant vote of confidence from the acclaimed filmmaker, who is known for his business savvy as well as his creative talents.
The proxy fight with Peltz, who runs the hedge fund Trian Partners, has been heating up as both sides present their arguments to Disney shareholders. Trian has been critical of Disney’s financial performance, pointing out issues with box office results, streaming services, and linear TV. In response, Disney has highlighted the lack of qualifications and experience of Trian’s board nominees, along with those of another activist investor.
Glass Lewis, a proxy voting advisory firm, has weighed in on the situation by recommending that Disney shareholders support the company’s slate of board members in the upcoming vote. With the shareholder meeting scheduled for early April, both sides are working hard to sway investors and secure their desired outcome.
As the tension mounts and the battle for control of Disney escalates, one thing is clear: George Lucas believes in Disney’s future and is standing firmly behind the company and its leadership. It remains to be seen how this high-stakes proxy fight will ultimately play out, but one thing is for sure – the Force is strong with Disney as they navigate these tumultuous waters.
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