Among measures to be voted on, Trianon also wants Disney to amend its bylayws. A Division of NBCUniversal. 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. Another activist investor, Dan Loeb, agitated last year for Disney to spin off or sell ESPN but backed off in September saying he had a better understanding of the assets value to the broader company. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. Hell be succeeded by Susan Arnold. Get this delivered to your inbox, and more info about our products and services. Susan Arnold Biography. Arnold thanked Chapek for leading the company through the pandemic. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. The best of what to see, hear, eat, do, and more. 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. . Staffers are told to reject equality for equity and must reflect on Americas racist infrastructure and think carefully about whether or not [their] wealth is derived from racism, according to the documents. In 1999, she assumed global responsibility for Procter & Gamble's beauty business, thereby becoming the first woman to reach a president-level position in the company. -. AFL cites an open letter from an unspecified number of Disney employees criticizing the company's political statements, as well as an article published on Quillette, an online magazine, from someone claiming to be a "company insider" condemning the group's internal messaging. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. All rights reserved. ', 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. 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. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. 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.. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. Under Mr. Igers first tenure as CEO from September 2005 through February 2020, the Companys total shareholder return was 554%, which exceeded the S&P 500 total shareholder return of 244%. The move takes . Predecessor. Sabado Domingo @SabadoD00554481. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. View the profiles of people named Susan Arnold. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. She is known for her involvement in several works by the entertainment giant company. She has stepped back from her private equity job, which is a step better than Twitter (TWTR.N). 4. They are also able to put foward shareholder proposals. The BBC is not responsible for the content of external sites. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. "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 . 2023 NYP Holdings, Inc. All Rights Reserved, Disney may sell its 67% stake in Hulu to buy more Marvel rights: analyst, Critics slam woke live-action Peter Pan trailer, How the rich do Disney and its nothing like us commoners, Jude Law as Captain Hook in Peter Pan & Wendy triggers backlash. Arnold has been a member of Disneys board since 2007. Consumers as well as employees have gotten used to thinking of companies as political players, she said: The traditional political process may be seen as less efficacious. They Were Secretly Conservative Spies. It can decide to fight the addition of 1 qualified Board member, OR work together with Trian to create sustainable, long-term value at Disney., We believe that current investor sentiment on Disney is low, reflecting the hard truth that Disney is a company in crisis and faces many challenges that weigh on the Companys investment prospects., While we acknowledge that Disney, like many media companies, is undergoing a challenging pivot to streaming, we believe that many of the Companys current problems are self-inflicted and need to be addressed Trian believes that it is well positioned to facilitate positive change at Disney given our experience investing in and serving on the board of directors of blue-chip companies, and working collaboratively with management teams and boards to optimize corporate governance, strategy, operations and capital allocation., Mark Parker is an incredibly well-respected leader who over seven years as a Disney director has helped the Company effectively navigate through a time of unprecedented change, Arnold said. At the time, Iger was observing Disney's performance as a shareholder, but he had no intention of returning. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. from 1999 to present. She is a white, non hispanic female registered to vote in Broward County . Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. #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 . You will be redirected back to your article in, Joe Biden Had Basal Cell Cancerous Tissue Removed From Chest, His Doctor Says, Spirit Awards: 'Everything Everywhere All At Once' Takes Best Feature, 6 Other Trophies; 'The Bear', Quinta Brunson Tops In TV - Full Winners List, Will Moviegoers Lend An Ear To Children Of The Corn Remake? As a result, the board will be reduced to 11 members. Read about our approach to external linking. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. On Nov. 29, Twitter announced that Taylor would become its chairperson. 2023 KCRW All Rights Reserved. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. The change will take effect after the company's annual shareholder meeting. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. . Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. The C.E.O.s who say something but then follow it up with a real resource commitment and explain why theyre doing it employees that agree are engaged and excited, Kropp said. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . Arnold thanked Chapek for leading the company through the pandemic. 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. Click to reveal Got a confidential news tip? Read about our approach to external linking. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. The Walt Disney Company. Quotes displayed in real-time or delayed by at least 15 minutes. Will the Marvel invincibility last? In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. "The Street likes Mr. Iger almost as much . All Rights Reserved. Chairman of the board Bob Iger leaves at the end of 2021. edit. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. The entrance to Disney World in Orlando, Florida. Naked man claiming to have bomb causes 8-hour traffic jam Canadian teacher with size-Z prosthetic breasts placed on paid leave, Buster Murdaugh got 'very drunk' with dad 2 months after mom, brother murdered: source, I'm a professional cleaner ditch these 4 household products immediately, Tom Sandoval speaks out on Raquel Leviss affair: I deserve your anger, Shoeless Ariana Madix awkwardly tries to avoid cheating Tom Sandoval, Prince Harry was scared to lose Meghan Markle after fight that led to therapy, Memphis Grizzlies star Ja Morant allegedly flashes gun at a strip club, Tom Sizemore And The Dangerous Burden of Desperation, Ariana Madix, Tom Sandoval have awkward moment amid cheating scandal. Susan Arnold . Arnold becomes the first woman to chair Disney's board in the entertainment giant's 98-year history. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. 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. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. It cited Igers track record in growing shareholder value as CEO and noted that the exec has already taken decisive steps to realign content creation and distribution, and reposition Disneys streaming platforms and linear broadcast and cable networks for enhanced profitability for the company.. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. All Rights Reserved. [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. See here for a complete list of exchanges and delays. Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. Simply put, they can be counterproductive and undermine more effective ways to achieve change..