George Lucas Backs Bob Iger in Proxy Battle: ‘No One Knows Disney Better’

“Creating magic is not for amateurs,” the Star Wars creator and Disney shareholder says

Bob Iger, Walt Disney Company Chairman and CEO (right), and George Lucas, Star Wars creator, stand in front of the Millennium Falcon at Star Wars: Galaxy’s Edge at Disneyland Park in Anaheim, California, May 29, 2019. Star Wars: Galaxy’s Edge opens May 31, 2019, at Disneyland Resort in California and Aug. 29, 2019, at Walt Disney World Resort in Florida. (Richard Harbaugh/ Disneyland Resort)

George Lucas swooped in Tuesday to support Bob Iger in Disney’s proxy battle against activist investor Nelson Peltz, saying “no one knows Disney better” than its current leaders.

“Creating magic is not for amateurs,” Lucas said in a Tuesday statement. “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.”

Still a major Disney shareholder from his 2012 cash-and-stock deal, Lucas said Iger and the company’s dozen handpicked directors have his full support.

“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,” Lucas said. “I have voted all of my shares for Disney’s 12 directors and urge other shareholders to do the same.”

More to come …

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