The Walt Disney Company Board has continued to evolve to ensure it has the right combination of backgrounds, skill sets and perspectives to guide the Company into the future. The entrance to Disney World in Orlando, Florida. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. She's also been a director at McDonald's . Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. Facebook gives people the power to. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. 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. They Were Secretly Conservative Spies. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Susan Arnold Young, Education, Political Party, Movies. 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. As Chapek noted in his memo, Disney has earned a 100 percent rating from the Human Rights Campaign for the past 16 years. There was talk of him serving as ambassador to China, but that never came to be. Disneys in a big moment of transition. Arnold will begin her new role Dec. 31 . Walt Disney has named a new chairman of the board, and indicated its also in for a proxy fight as Nelson Peltz Trian Group seeks a directors seat for the activist investor in opposition to the companys slate. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. "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. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. The more a company does, the more it is expected to do. 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. 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 . 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. Changes at the top are disruptive and Disney is undergoing its own transformation. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. Its self-hatred, Rufo said Friday on Fox News Tucker Carlson Tonight., A Disney spokesperson told The Post Saturday that the internal documents are being deliberately distorted as reflective of company policy., In fact their purpose was to allow diversity of thought and discussion on the incredibly complex and challenging issues of race and discrimination that we as a society and companies nationwide are facing, the company said, noting its long history of inclusivity with stories that reflect acceptance and tolerance and celebrate peoples differences.. Susan Arnold Biography. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. Photo by Marko Aliaksandr. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. The Board is nominating for re-election at the Companys Annual Meeting incumbent directors Mary T. Barra, Safra A. Catz, Amy L. Chang, Francis A. deSouza, Carolyn Everson, Michael B.G. Consumers are turning to vote with their dollar.. Read about our approach to external linking. Susan Arnold will succeed Bob Iger as the next Disney chairman. "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. Arnold thanked Chapek for leading the company through the pandemic. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. 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. The Walt Disney Company. 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. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. 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. Disneys in a big moment of transition. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. And Ive continually gotten the unspoken answer: no, the employee told the outlet. "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 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? (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 . Prior to that, she was Vice Chair of P&G Beauty and. That fits with the direction Disney is headed in generally. What science tells us about the afterlife. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. -. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. The company is completely ideologically one-sided and actively discourages Christian and or conservative workers from speaking their mind, the worker said. Iger led Disney for 15 years before stepping down in 2020. . While Iger came from a creative background, thats not the case with Arnold. 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. "The Street likes Mr. Iger almost as much . Get our latest storiesin the feed of your favorite networks. Weve already seen that happen a bit. 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. 2021-present. 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 . Regarding your Wednesday newsletter on businesses cutting ties with Russia over its invasion of Ukraine: When it comes to a crunch, corporations are showing their commitment to preserving democracy and Western values, which cannot be readily quantified in monetary terms. Disney. Disney's in a big moment of transition. Susan E. Arnold. 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. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. Christopher Palmeri. Your IP: "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. But Disneys appointment could have been more thoughtful. All Rights Reserved. Description. Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. "The Board of Directors has a fiduciary obligation to ensure it fulfills its duty of oversight, and should provide answers to its shareholders without delay. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. A Division of NBCUniversal. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. As a subscriber, you have 10 gift articles to give each month. BURBANK, Calif., December 1, 2021The Walt Disney Company (NYSE: DIS) Board of Directors announced that it has elected Susan E. Arnold as Chairman of the Board, effective December 31, 2021. 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? The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. She was an operating executive at The Carlyle Group until this year. Arnold has served as the panel . 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%. She is a white, non hispanic female registered to vote in Broward County . See here for a complete list of exchanges and delays. 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. 38/$4,515. 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 Walt Disney Company has a big problem. Mr Iger, who stepped down as Disney's chief executive in 2020 after 15 years in the role, will leave the company by the end of this month. She was an operating . Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. 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. Hell be succeeded by Susan Arnold. A backlash among Disney's senior executives grew to the point it reached the company's 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 some cases the restive employees are conservatives, not liberals. [11][12] She was elected chair on December 31, 2021. Term. 42/$4,105. 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 . 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. In a note published today, called Restore The Magic, Trian said Disney is at a crossroads. There are almost daily memos, suggested readings, panels, and seminars that [are] all centered around antiracism, one employee told the outlet. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. By Ryan Faughnder Staff Writer. Prior to that, she was Vice Chair of P&G Beauty and Health from 2006, Vice Chair of P&G Beauty from 2004 and President Global Personal Beauty Care and Global Feminine Care from 2002. They targeted moderate . 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 . 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. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". Warner Bros. golden ticket: Will they make new Lord of the Rings films? Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. Arnold has been a member of Disneys board since 2007. With the departure of Arnold . Disney shares were relatively flat in after-hours trading. The $260 billion media giant named Susan Arnold on Wednesday as . The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. Susan Arnold is an American business executive and chairwoman of Walt Disney. "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. 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. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. Label. 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. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . Disney is pushing critical race theory on employees through a new plan called "Reimagine Tomorrow," urging workers to recognize their . 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. 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Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. "Mark Parker is an incredibly well-respected leader who over seven years. What's the least amount of exercise we can get away with? 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. Hell be succeeded by Susan Arnold. While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, 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 (noted above). Chairman of the board Bob Iger leaves at the end of 2021. Sabado Domingo @SabadoD00554481. 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 . But that progressive record was no shield from criticism. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. The move comes as the company faces a proxy fight with an influential activist shareholder. 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. 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. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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 . It's a woke world after all. I interviewed Brian Kropp, chief of research in Gartners human resources practice. Disney has a progressive record on sexuality and gender. 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. 1 He will be replaced by Susan Arnoldwho has been . Send a note to coy-newsletter@nytimes.com. "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. View the profiles of people named Susan Arnold. Got a confidential news tip? This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. but a. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. 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 . Dec. 1, 2021 Updated 2:18 PM PT. Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. 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. Market data provided byFactset. 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. That angers both sides, he said. Are you going to stand up for them or not?. December 2, 2021. (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." Click to reveal [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. Putting names to archive photos, The children left behind in Cuba's mass exodus, In photos: India's disappearing single-screen cinemas.