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George Lucas Backs Disney Board and CEO Bob Iger Amid Proxy Fight: ‘Creating Magic Is Not for Amateurs’
George Lucas issued a statement in support of Disney's board and CEO Bob Iger, urging shareholders to reject activist investors' board nominees.
“When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my longtime admiration for its iconic brand and Bob Iger’s leadership.” Peltz, for one, has argued that Disney’s stock has underperformed the market and that the company needs to adopt more urgent strategies to drive sustained and profitable growth. Disney has previously said it opposes the candidates nominated by Trian and Blackwells as lacking “the appropriate range of talent, skill, perspective and/or expertise,” and is urging shareholders to vote for its own 12 nominees.
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