Gov. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. Iger has been gradually removing himself from active . Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Yes, even on a piece of state legislation that did not directly involve Disney. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Editing by Lauren Silva Laughlin and Sharon Lam, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. 2023 BBC. All Rights Reserved. Will the Marvel invincibility last? 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. All quotes delayed a minimum of 15 minutes. At the time, Iger was observing Disney's performance as a shareholder, but he had no intention of returning. [4][5][6], Since 2002, she has been listed on Fortune magazine's 50 Most Powerful Women in Business as #7 in 2008. 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. His departure marks the end of an era. Susan Arnold (Q535362) Susan Arnold. 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 . 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. Quotes displayed in real-time or delayed by at least 15 minutes. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. 2023 FOX News Network, LLC. 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. 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. 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? "Mark Parker is an incredibly well-respected leader who over seven years. Get our latest storiesin the feed of your favorite networks. BREAKING: Mark Parker Named New Disney Chairman, Succeeding Susan Arnold. He'll be succeeded by Susan Arnold. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. The WSJ said Trian execs met with Disney brass, including Iger and CFO Christine McCarthy, Tuesday in an attempt to come to an agreement and avoid a proxy battle, and that Arnold called Peltz this morning to offer him a role as a board observer and ask him to sign a standstill agreement, which he declined. [11][12] She was elected chair on December 31, 2021. Arnold will begin her new role Dec. 31 . American First Legal (AFL) senior counselor Reed Rubinstein argues in a letter written on behalf of "concerned shareholders and customers of" Disney that the company's management "may be" in violation of Title VII of the Civil Rights Act; Florida's Civil Rights Act; and California Labor Code sections 1101 and 1102. 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. "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. Picture taken July 24, 2021. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. Arnold, who was a former executive at the Carlyle Group, joined the Disney board in 2007. She's also been a director at McDonald's . (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 . #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 . Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. 38/$4,515. They targeted moderate . On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. The average tenure of the current Board is four years, with three directors serving fewer than two years, and in addition the Board is led by an independent chairman. Disney. Susan E . In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. Christopher Palmeri. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. 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. Predecessor. She is known for her involvement in several works by the entertainment giant company. To a Spreadsheet or Other File Type. 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. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. . Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. She is based in New York. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. asks James Heskett. Disney has a progressive record on sexuality and gender. We want to hear from you! Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. Disneys in a big moment of transition. 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. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. The change will take effect after the company's annual shareholder meeting. Iger has a two year contract. In a note published today, called Restore The Magic, Trian said Disney is at a crossroads. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. Arnold thanked Chapek for leading the company through the pandemic. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. Hell be succeeded by Susan Arnold. Read about our approach to external linking. Instead, they are often weaponized by one side or the other to further divide and inflame. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. Susan Arnold will succeed Bob Iger as the next Disney chairman. Jeannetta Arnette. Language. Disney recommends its staffers hit the books, suggesting one essay that encourages parents to commit to raising race-consciousness in children and which teaches that even babies discriminate against members of other races. Click to reveal He now holds two big jobs that will split his attention. By Ryan Faughnder Staff Writer. Mr Iger's exit marks the end of an era for Disney, who has been in a senior role at the company since 1996. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. Dec. 1, 2021 Updated 2:18 PM PT. Got a confidential news tip? 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 . The estimated Net Worth of Susan E Arnold is at least $5.99 Million dollars as of 2 June 2021. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. The action you just performed triggered the security solution. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. December 2, 2021.
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