In an attempt to seize two seats on Disney's board of directors, activist investor Nelson Peltz's hedge fund, Trian Partners, is facing opposition from prominent figures like Star Wars director George Lucas. Lucas recently announced his support for the current board and CEO Bob Iger, putting forth a strong endorsement for their leadership.

According to the Wall Street Journal, Peltz's bid to gain board seats is being met with resistance from Lucas, who is one of Disney's largest single shareholders. Lucas expressed his faith and confidence in Disney's creative power and praised Iger's track record in driving long-term value for the company. In a statement, he encouraged other shareholders to vote in favor of Disney's 12 directors.

Lucas, who left his CEO position at Disney in 2020 and later returned after more than two years, referenced the "difficult time" and expressed relief when Iger came back to lead the company. His endorsement not only bolsters Iger's position but also highlights his intimate knowledge of Disney and its operations.

Disney, which owns Lucasfilm, released a statement echoing Lucas's sentiment, stating that managing creativity is not akin to managing a hedge fund. The company emphasized the importance of visionary leadership in driving Disney's success in the entertainment industry.

Jamie Dimon, the CEO of JPMorgan Chase, also offered his endorsement for Iger, noting the Disney chief's exceptional executive skills and deep understanding of the media and entertainment business, as reported by Fortune. This endorsement holds significance as it draws a connection between Lucas and Dimon through Mellody Hobson, co-CEO of Ariel Investments and Lucas's wife, who recently became the first Black woman to join JPMorgan's board.

Peltz's efforts to bring about changes at Disney, including enhancing theme parks, reducing Hulu, and improving shareholder returns, face an uphill battle as influential figures like Lucas and Dimon throw their weight behind Iger and the current board.

As the struggle for board seats continues, the support from Lucas and other high-profile figures serves as a testament to the confidence in Disney's leadership and its ability to drive long-term value for shareholders.