March 19 (Reuters) - Filmmaker George Lucas has backed
Walt Disney ( DIS ) CEO Bob Iger in the media company's bitter
proxy battle with activist investor Nelson Peltz, CNBC reported
on Tuesday.
Lucas, who received 37.1 million Disney ( DIS ) shares as part of
the company's $4.05 billion purchase of Lucasfilm in 2012, is
currently the largest individual investor in the company, the
report said, citing multiple sources.
"I remain a significant shareholder because I have full
faith and confidence in the power of Disney ( DIS ) and Bob's track
record of driving long-term value. I have voted all of my shares
for Disney's ( DIS ) 12 directors and urge other shareholders to do the
same," Lucas was quoted as saying in the report.
The backing from Lucas comes a day after Disney ( DIS ) got support
from proxy advisory firm Glass Lewis that urged shareholders to
re-elect all of the company's directors.
Peltz's Trian Fund Management had argued that Disney ( DIS ) was
slow to adopt to changes in streaming and bungled succession
planning, creating a "leadership void" and had lost its creative
spark.
Lucasfilm and Walt Disney ( DIS ) did not immediately respond to
Reuters' requests for comment.