Posted 3/19/2024, 12:06:25 PM
George Lucas Backs Disney Leadership, Urges Shareholders to Reject Activist Investors Seeking Board Seats
- George Lucas issued a statement supporting Disney's board and CEO Bob Iger, urging shareholders to reject activist investors seeking board seats
- Lucas said "Creating magic is not for amateurs" in reference to his support for Iger's leadership and track record
- Lucas sold Lucasfilm to Disney in 2012 for $4 billion under Iger
- The statement comes amid a proxy fight from investors Trian Partners and Blackwells Capital to get board representation
- Lucas said he remains a significant Disney shareholder and has voted for Disney's 12 board nominees