', 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. 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. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 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. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. 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. This isnt just a Disney issue. The Walt Disney Company announced Wednesday that it has elected Susan Arnold to be its next chairman of the board, making her the first woman to helm the corporation in its 98-year history. 2021-present. But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Yes, even on a piece of state legislation that did not directly involve Disney. Disney employs many high-profile LGBTQ+ rights advocates both behind and in front of the camera, and its board is led by a gay woman, Susan Arnold, who succeeded Iger as chairman in December. Susan Arnold - Credit: dailyO. Chairman of the Board. The change will take effect after the company's annual shareholder meeting. "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. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. "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. "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. All Rights Reserved. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. His departure marks the end of an era. 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 . Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. He now holds two big jobs that will split his attention. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. These actions provide hope that the concept of an enlightened capitalism exists and has evolved in the subconscious of corporate leaders, who have responded collectively for the common welfare in a time of crisis. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. The move comes as the company faces a proxy fight with an influential activist shareholder. Susan E . She retired from Procter & Gamble on September 1, 2009. But mammoth companies like Disney arent usually ready to give up on any part of their customer base, so the stresses of political involvement are likely to continue. And Ive continually gotten the unspoken answer: no, the employee told the outlet. Are you going to stand up for them or not?. 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. Consumers are turning to vote with their dollar.. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. political party, a group of persons organized to acquire and exercise political power. Send us a tip using our annonymous form. 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. 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. It states that "classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age appropriate or developmentally appropriate for students in accordance with state standards.". I interviewed Brian Kropp, chief of research in Gartners human resources practice. Chairman of the board Bob Iger leaves at the end of 2021. 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. Photo by Marko Aliaksandr. Arnold has been a member of Disneys board since 2007. [2], She is an operating executive of The Carlyle Group, since September 2013. 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. 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. Opinions expressed are those of the author. On Nov. 29, Twitter announced that Taylor would become its chairperson. Your IP: Susan Arnold will succeed Bob Iger as the next Disney chairman. Arnold will begin her new role Dec. 31 . . 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 . Powered and implemented byFactSet Digital Solutions. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). A conservative legal group set up by former Trump adviser Stephen Miller on Tuesday sent a letter to The Walt Disney Company Chair Susan Arnold accusing company executives of choosing to . Susan Arnold Young, Education, Political Party, Movies. 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. In some cases the restive employees are conservatives, not liberals. With the departure of Arnold, Disney's board will shrink to 11 . Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. 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. Quotes displayed in real-time or delayed by at least 15 minutes. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. 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. What science tells us about the afterlife. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. She has stepped back from her private equity job, which is a step better than Twitter (TWTR.N). According to Forbes, Susan Arnold got her start as a brand assistant on the Dawn/Ivory Snow Group. Predecessor. Physics is the law, everything else is a recommendation.. Deadline is a part of Penske Media Corporation. As a result, the board will be reduced to 11 members. 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. And so on. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. We've received your submission. Chairman of the board Bob Iger leaves at the end of 2021. Gov. The entrance to Disney World in Orlando, Florida. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. 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.. 93. "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. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. 1 He will be replaced by Susan Arnoldwho has been . All quotes delayed a minimum of 15 minutes. 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 Global Personal Beauty Care and Global Feminine Care from 2002. Sabado Domingo @SabadoD00554481. They Were Secretly Conservative Spies. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Click to reveal But that progressive record was no shield from criticism. 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 Bob Iger, who stepped down as Disney CEO early last year. 4. The Walt Disney Company has a big problem. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. 2023 Deadline Hollywood, LLC. Jeannetta Arnette. Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. 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 . Mr Iger's exit marks the end of an era for Disney, who has been in a senior role at the company since 1996. Ant Man gets poor reviews. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. 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. One C.E.O. FAQ - New Privacy Policy, New York Posts Karol Markowicz discusses how Disney is pushing back against Floridas parental rights bill and how she is quitting the park on Fox Business Tonight., FIRST ON FOX: A conservative legal group set up by former Trump adviser Stephen Miller on Tuesday sent a letter to The Walt Disney Company Chair Susan Arnold accusing company executives of choosing to "discriminate," "alienate the Companys core customers" and even "violate the law.". Disneys in a big moment of transition. 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. 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. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. If anything it made Disney more vulnerable because employees and other stakeholders expected the company to live up to its own expressed values. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. With the departure of Arnold . Under him, the behemoth acquired Pixar . Theyre disappointed but theyre not mad on average., Kropp said he feels for corporate chiefs who are bogged down in the culture wars. "[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. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. 2018 Transaction Count/Amount. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. 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.