Is Bob Iger's Force strong? On Tuesday, “Star Wars” creator George Lucas said he stands by Walt Disney Co. amid a dispute between executives and activist investor Nelson Peltz.
The Lucasfilm founder and longtime Disney shareholder issued a statement expressing “full trust and confidence in Bob's track record of advancing the power and long-term value of Disney.” The Burbank-based entertainment giant acquired Lucasfilm for his $4 billion in 2012 and has since produced films such as “Indiana Jones” and “Star Wars” under its storied banner. They have released TV series one after another.
“Creating magic is not the job of amateurs,” Lucas said in a statement to the Times. “When we sold Lucasfilm almost 10 years ago, I was excited to become a shareholder in Disney because I had long admired its iconic brand and Bob Iger's leadership.”
Mr. Lucas' approval comes at a pivotal time for Mr. Iger and the Disney board. The House of Mouse's annual shareholder meeting, in which Mr. Peltz and his company, Trian Fund Management, seek to remove two Disney directors, is scheduled for April 3.
Team Eiger also includes investment firm and Disney shareholder ValueAct Capital Management. Peltz is joined by former Marvel Entertainment CEO Ike Perlmutter and former Disney chief financial officer Jay Laszlo, whom Tryon has named to the board along with Peltz.
“I was relieved when Bob recently rejoined the company during a difficult time,” Lucas continued in the statement. “No one knows Disney best. …I have voted all of my shares on Disney's 12 board members, and I encourage other shareholders to do the same.” ”
Lucas hasn't always spoken so warmly about Disney. In a 2015 interview with Charlie Rose, he expressed his regret at selling Lucasfilm to people he called “white slavers.”
“They saw the story and said, 'We want to make something for the fans,'” Lucas told Rose. “They weren't all that keen on getting me involved anyway. But if I get in there, it's just going to cause problems, because they're not going to do what I want them to do. …So I said, “Okay, I'm going to go my way, and I'm going to let them go their way.''