Disneys chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. I attended several [training sessions] at the beginning just to see what the temperature of the discussion would be and to gauge if I would be able to bring up my own objections in a safe waysafe meaning for my career. Anyone can read what you share. Arnold thanked Chapek for leading the company through the pandemic. "As I step into this new role as chairman of the board, I look forward to continuing to serve the long-term interests of Disney's shareholders and working closely with CEO Bob Chapek as he builds upon the company's century-long legacy of creative excellence and innovation," Ms Arnold said in a statement. Have feedback? Parker, who also serves as executive chairman at Nike Inc., succeeds Susan Arnold, who won't stand for re-election due to Disney's 15-year term limit requirements. As a result, the board will be reduced to 11 members. 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. asks James Heskett. When Bob Iger officially leaves Disney at the end of the year, hell be succeeded by Susan Arnold, the first woman and first openly gay person to lead the Disney board of directors. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. 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. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. The date of the Annual Meeting has not yet been announced. During his four decades at NIKE, Mark has led one of the worlds most recognized consumer brands through various market evolutions and a successful CEO transition, and he is uniquely positioned to chair the Disney Board during this period of transformation., Mark Parkers vision, incredible depth of experience and wise counsel have been invaluable to Disney, and I look forward to continuing working with him in his new role, along with our other directors, as we chart the future course for this amazing company, said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Chairman of the Board. She's also been a director at McDonald's . She has also served in senior roles at some of America's biggest companies. 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. All Rights Reserved. 0. The Fair Political Practices Commission is looking at whether former Gov. She is based in New York. Disney has a progressive record on sexuality and gender. 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. Dec. 1, 2021 Updated 2:18 PM PT. Disneys in a big moment of transition. Health workers in protective gear carry out tests at the theme park, Disney and Scarlett Johansson settle lawsuit, New Disney movies to debut exclusively in cinemas, Shang-Chi leads cinema fightback at box office, Historic ocean treaty agreed after decade of talks, China looks at reforms to deepen Xi's control, Inside the enclave surrounded by pro-Russia forces, 'The nurses wanted me to feel guilty about my abortion, From Afghan TV fame to a US factory floor. Disney shares were down 41 percent this year, as of November 9, with even the company's streaming platform Disney+, which remains hugely popular, reporting an operating loss of $1.47 billion. 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. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. By subscribing, I agree to the Terms of Use and Privacy Policy. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. See here for a complete list of exchanges and delays. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett Picture taken July 24, 2021. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Prior to that, she was Vice Chair of P&G Beauty and. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. On Nov. 29, Twitter announced that Taylor would become its chairperson. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Iger was Disney's public face for 15 years as chief executive before handing the job off to Chapek in 2020, a stretch in which he compiled a string of victories lauded in the entertainment . Disneys in a big moment of transition. 2023 BBC. Label. This website is using a security service to protect itself from online attacks. (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 . She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. Iger has been gradually removing himself from active . Send a note to coy-newsletter@nytimes.com. 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 . What's the least amount of exercise we can get away with? He now holds two big jobs that will split his attention. 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. . A Division of NBCUniversal. She was an operating executive at The Carlyle Group until this year. Gov. Susan Arnold Young, Education, Political Party, Movies. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. "Floridas HB 1557, also known as the Dont Say Gay bill, should never have passed and should never have been signed into law," the Disney statement said. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. And so on. Legal Statement. The Walt Disney Company has had a long-term track record of financial and creative success, built on the ability to leverage its rich intellectual property and unparalleled storytelling across its many businesses, from theatrical, streaming and linear broadcast to parks and resorts, and one of the most resonant names in sports, ESPN. 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. December 2, 2021. Disney. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Get this delivered to your inbox, and more info about our products and services. View the profiles of people named Susan Arnold. The action you just performed triggered the security solution. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. Description. Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. Chris Palmeri reports. Photo by Marko Aliaksandr. Susan Arnold Biography. susan arnold disney political party. 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 . Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . 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. Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. Opinions expressed are those of the author. The BBC is not responsible for the content of external sites. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. -. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. "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 E. Arnold. The Board of The Walt Disney Company has been continually refreshed, with a focus on directors whose industry experience is additive to the companys strategic priorities. Iger is set to step away from the role by the end of this year. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. One C.E.O. With the departure of Arnold . This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Advertisement. Christopher Palmeri. The move comes as the company faces a proxy fight with an influential activist shareholder. Photo by Marko Aliaksandr. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. The term party has since come to be applied to all organized groups seeking political power, whether . Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. 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. 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 . Arnold has served as the panel . Includes location, related records, political party, and more. Currently, Susan E. Arnold is Chairman at The Walt Disney Co. Betty Arnold (Democratic Party) is a member of the Kansas State Board of Education, representing District 8.Arnold assumed office on January 12, 2021. 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. By Prince Akoenyenu November 21, 2022. Disney shares were relatively flat in after-hours trading. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 67.227.155.73 political party, a group of persons organized to acquire and exercise political power. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. 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 . They targeted moderate . Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. #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 . 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 During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. His departure marks the end of an era. Iger has a two year contract. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. In a note published today, called Restore The Magic, Trian said Disney is at a crossroads. Prior to 2007, she was Vice Chair of P&G Beauty and Health from 2006, Vice Chair of P&G Beauty from 2004 and President . The Walt Disney Company has a big problem. - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. 2023 Deadline Hollywood, LLC. The Walt Disney Company 's board of directors has named Susan Arnold, a 14-year member of the board, as its new chair, succeeding the outgoing Bob Iger. The more a company does, the more it is expected to do. This isnt just a Disney issue. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. Bob Iger (2012-2021) Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company . On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. Her appointment comes as large companies are moving away from management structures where the chief executive and chairperson roles are held by the same person after pressure from corporate governance experts, investors and, in some cases, regulators to separate the two key positions. "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. (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." Arnold will begin her new role Dec. 31 . Joseph Prezioso/ZUMA Wire. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. Physics is the law, everything else is a recommendation.. 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. Mr. Igers mandate is to use his two-year term and depth of experience in the industry to adapt the business model for the shifting media landscape, rebalancing investment with revenue opportunity while bringing a renewed focus on the creative talent that has made The Walt Disney Company the envy of the industry. We want to hear from you! 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. Putting names to archive photos, The children left behind in Cuba's mass exodus, In photos: India's disappearing single-screen cinemas. "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. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. That angers both sides, he said. "Mark Parker is an incredibly well-respected leader who over seven years. The Walt Disney Company has a big problem. Where he heads next is still an open question. Trian Partners L.P. and Trian Partners Parallel Fund I, L.P., wholly owned subsidiaries of Trian Fund Management, L.P., along with other entities affiliated with Nelson Peltz (collectively, the Trian Group), have nominated Nelson Peltz for election as director at the Annual Meeting in opposition to the nominees recommended by the Board, and brought a proposal to amend Disneys Bylaws. Weve already seen that happen a bit. Term. Susan Arnold will succeed Bob Iger as the next Disney chairman. Chairman of the board Bob Iger leaves at the end of 2021. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman.