What could the legendary Star Wars creator George Lucas and the charismatic CEO of JPMorgan Chase, Jamie Dimon, possibly have in common? The answer is none other than Mellody Hobson, Ariel Investments co-CEO and one of Fortune’s most powerful women.
A Trailblazer in Her Own Right
As a leading lady in the world of finance, Hobson broke new ground in 2018 when she became the first Black woman to join the board of JPMorgan. Her impact doesn’t stop there; since 2019, she’s been co-CEO of Ariel Investments, an investment firm headquartered in Chicago with a staggering $15 billion in assets under management. And if that wasn’t impressive enough, she’s also married to George Lucas, tying the knot in 2013 at the iconic Skywalker Ranch.
A Powerful Alliance
Lucas, from his ranch, issued a statement today to express his support for Walt Disney CEO Bob Iger amidst Disney’s ongoing proxy fight with activist investor Nelson Peltz. As the owner of 37.1 million shares of Disney, Lucas’ words hold significant weight. He acquired the shares when he sold Lucasfilm to Disney in 2012 for a cool $4 billion in cash and stock.
Interestingly, Lucas isn’t the only one backing Iger. Jamie Dimon, too, has thrown his support behind the Disney CEO, stating, “Bob is a first-class executive and outstanding leader who I’ve known for decades. He knows the media and entertainment business cold and has the successful track record to prove it.”
When the Stakes Are High
As the battle for board seats continues, Iger and Peltz are locked in a struggle. Peltz aims to secure a seat for himself and a deputy, while Disney is playing defense. The stakes are high, but Iger has the backing of some formidable allies.
Lucas shares Dimon’s confidence in Iger, stating, “When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better.”
And the support doesn’t stop there. Glass Lewis, a proxy advisory firm, also issued a report recommending that investors withhold support from Peltz and his deputy and nominees from another activist fund, Blackwells. This is a key win for Iger and Disney, as voting in the contest has already begun, and the company’s shareholder meeting is scheduled for April 3.
As reported by Vogue, after Lucas and Hobson’s wedding ceremony at Skywalker Ranch, a party was held in Promontory Park, Chicago. Among the guests was Jamie Dimon, former CEO of Chicago-based Bank One, which merged with JPMorgan in 2004. Dimon now leads the $3.2 trillion financial services firm.
With such influential supporters, it’s clear that Mellody Hobson is a force to be reckoned with in the world of finance. As we await the outcome of the Disney board battle, one thing is for sure: Hobson’s influence and connections continue to make waves.
What’s next for this powerhouse? Only time will tell, but we’re certainly excited to follow her journey.
