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Legendary Star Wars Creator Picks a Side in Battle With Disney

via Disney Parks
This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

Disney is facing a potential proxy battle in 2024 as some shareholders grow dissatisfied with the company’s performance and leadership under CEO Bob Iger.

Activist investors Trian Partners and Blackwells Capital are each aiming to put their own board nominees forward.

“Disney is once again facing an activist proxy fight at a moment of weakness, with Nelson Peltz’s Trian Partners (backed by former Marvel chairman Ike Perlmutter’s $3 billion or so of Disney stock) aiming to put Peltz and former Disney CFO Jay Rasulo on the board, and another activist, Jason Aintabi’s Blackwells Capital, nominating three directors of its own,” THR reported.

However, Iger, who recently returned as CEO, appears to be rallying support against the challenges.

Powerful backers are emerging on his side, including the Disney family and George Lucas, the legendary creator of Star Wars, who issued a rare public statement urging shareholders to support Iger due to his proven track record of driving long-term value for Disney.

“Creating magic is not for amateurs,” Lucas stated. “When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger’s leadership.”

“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.”

With major figures lining up on both sides, the outcome of the proxy battle shaping up for the 2024 annual shareholder meeting remains uncertain.

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