BREAKING: Mark Parker Named New Disney Chairman, Succeeding Susan Arnold. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Philosopher. Opinions expressed are those of the author. Disney is replacing Bob Iger, who will soon wrap up his decades-long tenure at the company, with Susan Arnold as chairman of the board. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. All quotes delayed a minimum of 15 minutes. Christopher Palmeri. 2018 Transaction Count/Amount. Chris Palmeri reports. Walt Disney Co. has announced that Susan E. Arnold will succeed Robert Iger as chairman of the board, the first time a woman has held the position at the company, effective December 31st. The entrance to Disney World in Orlando, Florida. Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. The article describes an environment in which some Disney employees allegedly found themselves "the target of scrutiny and likely termination" if they spoke out against Disney's political stances. Disneys chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. https://www.nytimes.com/2022/03/11/opinion/disney-florida-lgbtq.html, Illustration by The New York Times; Photography by johnnylemonseed, and OpThailand via Getty Images. Arnold thanked Chapek for leading the company through the pandemic. There was talk of him serving as ambassador to China, but that never came to be. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. . [4][5][6], Since 2002, she has been listed on Fortune magazine's 50 Most Powerful Women in Business as #7 in 2008. His attempt to keep out of the spotlight had failed. Its been very stifling to feel like everyone keeps talking about having open dialogue and compassionate conversations, but when it comes down to it, I know if I said one thing that was truthful, based on data, or even just based on my own personal experience, it would actually be rather unwelcomed, the person continued. 93. Arnold has been a member of Disneys board since 2007. Ms. Arnold owns over 8,400 units of Walt Disney Co stock worth over $4,102,492 and over the last 19 years she sold DIS stock worth over $1,493,100. This is a list of The Walt Disney Company's Executive Management Team, both present and historical. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. That fits with the direction Disney is headed in generally. While Iger came from a creative background, thats not the case with Arnold. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images), GET FOX BUSINESS ON THE GO BY CLICKING HERE, Nothing in the Florida legislation itself mentions the word "gay." (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). 67.227.155.73 Term. When Bob Iger officially leaves Disney at the end of . A Disney director for the past seven-years and Executive Chairman of Nike as well, he will succeed Susan E. Arnold, who will not stand for re-election as per the 15-year term limit under Disneys Board Tenure Policy. - Walt Disney said on Dec. 1 the board elected Susan Arnold who will replace Bob Iger as chairperson of Disneys board. Arnold is bumping up against Disneys own corporate governance guidelines that state the board wont nominate for re-election any non-management director after completing 15 years of service. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. Arnold is a 14-year member of the Disney . DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. She was listed multiple times on the Forbes list of The World's Most Powerful Women and in 2005 she was #16 on Forbes' The World's 100 Most Powerful Women list. Since succession planning went awry last time, one thing Trian wants to make sure of is that Disney plans this next round well, according to the WSJ. Where he heads next is still an open question. Now theres the possibility that he could own a sports team or take on another big public role. The Walt Disney Company has appointed its first female chairperson to its board of directors.. Disney confirmed that as of Dec. 31, Susan Arnold will take over for former CEO Bob Iger as chairman of the board. The Walt Disney Company has a big problem. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. Disney. Susan Arnold had been named as chairperson of the board of the Walt Disney Company - Get Free Report replacing Robert Iger, effective December 31, 2021. #Disney #BobIger #BobChapek Bob Iger strenghtens his grip on Disney by ousting Susan Arnold as Chairman of the Board, install a cronie in her place . By Prince Akoenyenu November 21, 2022. Under him, the behemoth acquired Pixar . Ms. Arnold, a 14-year member of the Disney Board who has served as its independent Lead Director since 2018, will succeed Robert A. Iger as Chairman of the Board when he departs the Company at the end of . 2023 KCRW All Rights Reserved. Chairman of the board Bob Iger leaves at the end of 2021. "[I]t seems the Companys executives are engaging in systemic discrimination against religious believers and creating a hostile work environment to silence them and/or drive them out of the Company; unlawfully favoring some individuals and discriminating against others with respect to the terms," the AFL letter states. Instead, they are often weaponized by one side or the other to further divide and inflame. She is known for her involvement in several works by the entertainment giant company. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. On Wednesday, Chapek made his first public statement against the bill at the companys annual shareholder meeting, which was dominated by talk of Dont Say Gay rather than the companys (strong) financial condition. Dec 1 (Reuters) - Walt Disney Co (DIS.N) on Wednesday tapped Susan Arnold as its chairman of the board, the first woman to be named to the role in the entertainment company's 98-year-long history . By subscribing, I agree to the Terms of Use and Privacy Policy. This website is using a security service to protect itself from online attacks. In February 2021, the research company Gartner did a survey of 3,000 workers that found 68 percent would consider quitting their current job and working with an organization with a stronger viewpoint on the social issues that matter most to them. Legal Statement. Mr. Parker will also chair a newly created Succession Planning Committee of the Board, which will advise the Board on CEO succession planning, including review of internal and external candidates. "The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period," said Susan Arnold, Disney's chairman (who will keep that title), in a written statement. Tom Cruise and Steven Spielberg reconcile at Oscars luncheon, Disneys Bob Iger open to selling Hulu, plans exit in two years, Adam Scott, Lee Edward Colston II, and Sandy King Carpenter on The Treat, Wintering and enchantment: A pathway to healing and happiness, Born of persecution, Parsi cooking melds Persian and Indian cuisines, Playwright and actor Lee Edward Colston II on the beauty of a Black audience. We want to hear from you! Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. The term party has since come to be applied to all organized groups seeking political power, whether . Do Not Sell or Share My Personal Information. Chapek said he called DeSantis on Wednesday to express our disappointment and concern that if legislation becomes law, it could be used to unfairly target gay, lesbian, nonbinary and transgender kids and families.. She was an operating executive at The Carlyle Group until this year. Picture taken July 24, 2021. 2021-present. She served as president of the global business units of Procter & Gamble from 2007 to 2009 and was also a member of the board at McDonald's from 2008 to 2016. Disney has given about $55 million to Republicans, Democrats and political committees in the state over the past 28 years, including about $5 million in 2020 and more than $2 million so far in . (Unsplash/Brian McGowan) Early in 2022, Bob Chapek, CEO of The Walt Disney Companyone of Florida's largest employers with roughly 80,000 employeesand taxpayers, had reason to be satisfied with the company's performance, having just . Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Quotes displayed in real-time or delayed by at least 15 minutes. "Having most recently served as independent Lead Director, Susan is the perfect choice for Chairman of the Board, and I am confident the Company is well-positioned for continued success under her guidance and leadership," Iger said in a statement. Also known as. Iger, a former weatherman, joined the TV broadcast network ABC in 1974, where he developed iconic American TV shows, such as "America's Funniest Home Videos" and "Home Improvement," and helped in creating "Who Wants to Be a Millionaire.". Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. We want to hear from you. You can email the site owner to let them know you were blocked. [4][5] In June 2022, she was recognized by the International Hospitality Institute on the Global 100 in Hospitality as one of the 100 Most Powerful People in Global Hospitality. He then joined Disney and became the CEO in 2005. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. Dec. 1, 2021 Updated 2:18 PM PT. edit. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. Send a note to coy-newsletter@nytimes.com. asks James Heskett. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Walt Disney Co. named former Carlyle Group and Procter & Gamble Co. executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced . Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. 2023 Deadline Hollywood, LLC. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. political party, a group of persons organized to acquire and exercise political power. The . On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. Do you know this baby? Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. The best of what to see, hear, eat, do, and more. Our Standards: The Thomson Reuters Trust Principles. The $260 billion media giant named Susan Arnold on Wednesday as . Former CEO and current chairman of The Walt Disney Company ( DIS) board Bob Iger is stepping down from his role at the end of this month. Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. noted on a politically optimistic earnings call two days after the election, he supports closing tax . At the same time, it is the top priority of mine and the Boards to identify and prepare a successful CEO successor, and that process has already begun.. "The decision of The Walt Disney Corporation to promote the introduction of age-inappropriate sexual material in kindergarten classrooms, including radical gender ideology, and to fight the democratically-elected government of Florida in order to achieve this end, jeopardizes the financial future of the company and its shareholders in service of an extreme political agenda," AFL President Miller told FOX Business. Susan Arnold will replace Bob Iger, according to the Burbank, California-based entertainment giant.When she assumes the role on December 31, she will become the first woman to chair Disney's . The Company expects to file preliminary materials with respect to the 2023 Annual Meeting of Stockholders shortly and looks forward to communicating with its stockholders once definitive proxy materials are available. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from the company. Susan Arnold is an American business executive and chairwoman of Walt Disney. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. The Walt Disney Company has a big problem. Wall Street applauded Iger's return. "Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. Anyone can read what you share. It's a woke world after all. Advertisement. ', Last edited on 16 February 2023, at 11:27, "Susan E Arnold, Walt Disney Co: Profile and Biography - Bloomberg Markets", "Susan Arnold Named Chairman of the Board of The Walt Disney Company, Effective December 31", "The Walt Disney Company - Susan Arnold Biography", "Susan Arnold, The Most Powerful Women - Forbes.com", "The Walt Disney Company - News from the Disney Board - May 01, 2007", "Dr Jeffrey Obomeghie and Dupe Olusola among the 100 most powerful people in global hospitality", "Disney names Susan Arnold as board chair, replacing Bob Iger", "Disney appoints woman as chair for first time in 98-year history", "Susan Arnold: After 98 years, Walt Disney gets first woman chair", "Disney Appoints Mark Parker As Chairman of the Board, Replacing Susan Arnold", https://en.wikipedia.org/w/index.php?title=Susan_Arnold&oldid=1139689950, This page was last edited on 16 February 2023, at 11:27. Facebook gives people the power to. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Several other Disney executives have announced plans to leave by the end of this year, including studios head Alan Horn, president and chief creative officer of Disney Branded Television Gary Marsh and company general counsel Alan Braverman. The Walt Disney Company. "Apparently, the Companys executives have chosen to discriminate, create a hostile work environment, and drive away creative, loyal, and talented employees; alienate the Companys core customers; and violate the law, all for the purpose of advancing a very narrow political and social agenda promoting, inter alia, sexualizing content provided to young children," the letter to Disney states. The company has alsobackeda 21-Day Racial Equity and Social Justice Challenge day where participants are told they all been raised in a society that elevates white culture over others, City-Journal reported. I interviewed Brian Kropp, chief of research in Gartners human resources practice. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. That puts her well above the average tenure of directors at companies in the S&P 500 Index, which stands at nearly 8 years, according to executive search firm Spencer Stuart. And it fired Mandalorian actress Gina Carano in February after she made what were considered right-wing comments on social media. But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. exercices corrigs maths terminale stmg pdf . Disney has a new board chair, and she's a gay woman. Parker, a Disney board director since 2016 and current executive chairman of Nike, will succeed Susan Arnold, a veteran business leader who is not standing for reelection due to . The far-left turn by the house of Mickey Mouse has led to sky-high tensions, but staffers are terrified about speaking out against the ideology, multiple employees told City-Journal. Join Facebook to connect with Susan Arnold and others you may know. She retired from Procter & Gamble on September 1, 2009. Disney shares were relatively flat in after-hours trading. Market data provided byFactset. Disney executives had been working behind the scenes to head off Floridas Parental Rights in Education bill, which strongly constrains the teaching of sexual orientation and gender identity and which activist opponents call the Dont Say Gay bill. Have feedback? Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. 2023 BBC. Susan Arnold, who has been a Disney board member for 14 years and the independent lead director since 2018, will succeed Bob Iger as chairman of the board at the end of 2021. "Susan is an incredibly esteemed executive whose wealth of experience, unwavering integrity, and expert judgment have been invaluable to the company since she first joined the Board in 2007," Mr Iger said. Disney's in a big moment of transition. 0. Disney is pushing critical race theory on employees through a new plan called "Reimagine Tomorrow," urging workers to recognize their . Get this delivered to your inbox, and more info about our products and services. With the departure of Arnold . Susan E. Arnold, a 14-year member of the Walt Disney Co.'s board of directors, will take the helm as board chairman, effective 31, the company announced Wednesday. from 1999 to present. Title. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. "Mark Parker is an incredibly well-respected leader who over seven years. Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. The date of the Annual Meeting has not yet been announced. When is Eurovision and how do you get tickets? Susan E. Arnold graduated from the University of Pennsylvania with a Bachelor of Arts degree, and from the University of Pittsburgh with a Master of Business Administration degree. Arnold becomes the first woman to chair Disney's board in the entertainment giant's 98-year history. Deadline is a part of Penske Media Corporation. Susan Arnold, a veteran of consumer-products giant Procter & Gamble as well as the Carlyle Group investment firm, will take the reins as chairman of Walt Disney Co.'s board of directors . He now holds two big jobs that will split his attention. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. This isnt just a Disney issue. Disney has named board member Mark Parker, Nike's executive chairman, as its new chairman of the board, succeeding Susan Arnold, the company announced Wednesday. "The Street likes Mr. Iger almost as much . Iger led Disney for 15 years before stepping down in 2020. . But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. Arnold will begin her new role Dec. 31 . Disney has a progressive record on sexuality and gender. When you wait too long, youll get penalized no matter what you do., Companies need to accept that they have become part of the political process, like it or not, Paharia said. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. All Rights Reserved. The move comes as the company faces a proxy fight with an influential activist shareholder. Susan E. Arnold Bob Iger John S. Chen Judith L. Estrin Fred H. Langhammer Aylwin B. Lewis Monica C. Lozano Robert W. Matschullat Sheryl K. Sandberg Orin C. Smith Susan Arnold - Chairwoman Bob Iger -CEO James A. Rasulo - Senior Executive Vice President and CFO Alan N. Braverman - Senior . The Board does not endorse the Trian Group nominee, and recommends that shareholders not support its nominee, and instead vote FOR all the Companys nominees, Disney said. Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. Sabado Domingo @SabadoD00554481. Iger has a two year contract. 4. The move takes . As part of the challenge, staffers learn about their white privilege and are asked to fill out a white privilege checklist, with choices such as: I am white, I am heterosexual, I am a man, I still identity as the gender I was born in, I have never been raped, I dont rely on public transportation, and I have never been called a terrorist., The company has recently shown a willingness to embrace the new ideology, adding content advisories to films such as Dumbo, Aladdin, and Fantasia.. She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. "The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period," Susan Arnold, Disney's chairman, said in a prepared statement. Disney has a September fiscal year and usually issues its proxy statement which, among other things, lists the companys slate of directors up for election in January, and holds its shareholder meeting in March. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Arnold has served on the board of directors of The Walt Disney Company since 2007,[3] as well as the Carlyle portfolio investments company NBTY, The Nature's Bounty Co. She has also been a member of the Board of Directors of McDonald's Co. since 2008. . American businessperson, an operating executive of The Carlyle Group, and chair of the Walt Disney Company. View the voter registration of Susan Arnold (age 76) from Tamarac, Florida. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. A Division of NBCUniversal. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. Photo by Marko Aliaksandr. Specialty Preview, Ozy Media Closes In Wake Of Founder Carlos Watson Scandal, TikTok Introduces New Feature To Limit Screen Time For Teens, Prolific Actor Dies At 61 After Aneurysm; Hollywood Reax + Career In Photos, Eyes $51M+ Opening In U.S., A Record For Rocky Spinoff Franchise & Amazon, SAG-AFTRA And Casting Directors Weigh In On Self-Tape Controversy, Oscar Winner Guillermo del Toro On The Films That Lit His Fuse. The financial risk to Disney, according to the legal group, includes potentially driving away employees and customers as well as the potential risk of litigation costs if there is probable cause the company broke the law. Label. On behalf of my fellow Board members and the entire Disney management team, I also want to thank Susan for her superb leadership as Chairman and for her tireless work over the past 15 years as an exemplary steward of the Disney brand., Said Mr. Parker: I am honored to have the opportunity to serve as Disneys Chairman, and I look forward to working closely with Bob and his management team on a strategy of growth that balances investment with profitability, while preserving Disneys core mission of creative excellence, to deliver shareholder value. That could mean the possibility of another change of the guard on Disneys board when she hits her term limit. Weve already seen that happen a bit. Iger struck a reassuring tone in his first email to staff on . I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. Disney is pushing critical race theory on employees through a new plan called Reimagine Tomorrow, urging workers to recognize their white privilege, in a battery of training modules on topics such as systemic racism and white fragility, according to internal documents obtained by City-Journals Christopher Rufo. Harry: I always felt different to rest of family, Chris Rock talks Oscars slap in live Netflix show, Everything Everywhere wins big ahead of Oscars, PM to end asylum claims from small boat arrivals, US-made cheese can be called 'gruyere' - court, Mbappe breaks PSG goal record in win over Nantes. Walt Disney Co on Wednesday tapped Susan Arnold as its chairman of the board, the first woman to be named to the role in the entertainment company's 98-year-long history. Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. The more a company does, the more it is expected to do. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. A backlash among Disney's senior executives grew to the point it reached the company's board. Walt Disney named former Carlyle Group and Procter & Gamble Co. executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from the company. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. The action you just performed triggered the security solution. 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