The renowned filmmaker and Hollywood icon, George Lucas, is throwing his weight behind Walt Disney CEO Bob Iger in the intense proxy battle with activist investor Nelson Peltz.
Lucas, who acquired 37.1 million Disney shares as part of Disney’s $4.05 billion acquisition of Lucasfilm in 2012, is currently the largest individual investor in the company, according to multiple sources confirmed to CNBC.
In a statement provided to CNBC, Lucas expressed his unwavering support for Iger and Disney:
“Creating magic is not for amateurs. 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…
2024-03-19 12:25:48
Original from www.cnbc.com