In a significant development, George Lucas, the renowned filmmaker and creator of the “Star Wars” franchise, has publicly endorsed Bob Iger, the CEO of Walt Disney, amidst a contentious proxy battle with activist investor Nelson Peltz.

Lucas, who became the largest individual investor in Disney following the sale of his company, Lucasfilm, to Disney in 2012, has expressed his full faith and confidence in Iger’s leadership. His endorsement comes at a critical time when Disney is facing a proxy fight launched by Peltz and his firm, Trian Fund Management.

Lucas’s endorsement is not just symbolic but carries significant weight due to his status as Disney’s largest individual shareholder and his standing in Hollywood. His support for Iger is seen as a strategic move that could potentially influence the outcome of the proxy battle.

Lucas emphasized his trust in Iger’s ability to drive long-term value for Disney. He urged other shareholders to vote for Disney’s 12 directors, highlighting the importance of experienced leadership in navigating the complex dynamics of the media industry.

This development has added a new dimension to the ongoing proxy battle between Disney and Peltz. The latter has been critical of Disney’s slow adaptation to changes in streaming and what he perceives as a “leadership void” at the company.

However, with Lucas’s endorsement, Iger has gained a powerful ally. This move could potentially sway the opinion of other shareholders and tip the scales in favor of Iger in the upcoming board election.