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. [13] On January 11, 2023, Disney announced that Arnold would no longer serve as the board's chair after the next annual shareholder meeting and would be replaced by former Nike CEO Mark Parker.[14]. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. Mr Iger's exit marks the end of an era for Disney, who has been in a senior role at the company since 1996. The term party has since come to be applied to all organized groups seeking political power, whether . Chairman of the board Bob Iger leaves at the end of 2021. Arnold becomes the first woman to chair Disney's board in the entertainment giant's 98-year history. 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. Hell be succeeded by Susan Arnold. 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. By subscribing, I agree to the Terms of Use and Privacy Policy. Contribution Totals. She was formerly an executive at global investment firm Carlyle. All Rights Reserved. [2], She is an operating executive of The Carlyle Group, since September 2013. "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 . 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. 4. Iger has been gradually removing himself from active . Walt Disney Co. has named longtime board member Susan Arnold as its new chair to replace Bob Iger when he leaves the company at the . The financial risk to Disney, according to the legal group, includes potentially driving away employees and customers as well as the potential risk of litigation costs if there is probable cause the company broke the law. 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. 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. Now theres the possibility that he could own a sports team or take on another big public role. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Read about our approach to external linking. The $260 billion media giant named Susan Arnold on Wednesday as . 2023 FOX News Network, LLC. 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 . 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.". 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. Do Not Sell or Share My Personal Information. As Chapek noted in his memo, Disney has earned a 100 percent rating from the Human Rights Campaign for the past 16 years. 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. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Arnold has served as the panel . I interviewed Brian Kropp, chief of research in Gartners human resources practice. Download all contribution records for this person. Send a note to coy-newsletter@nytimes.com. Trust in Congress is decreasing. Performance & security by Cloudflare. Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. (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 is a white, non hispanic female registered to vote in Broward County . "[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. The tensions seem to be intensifying. 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. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. Arnold thanked Chapek for leading the company through the pandemic. [7], On December 1, 2021,[10][3] Arnold was appointed to replace Bob Iger as chair of the board at The Walt Disney Company and became the first woman to be appointed to this position in the 98-year history of Disney. 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. Disneys in a big moment of transition. from 1999 to present. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Susan Arnold Biography. It has featured gay and lesbian characters in its productions and the chair of its board of directors, Susan Arnold, is one of the highest-ranking women in corporate America who is openly lesbian. 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. Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. 10. With the departure of Arnold, Disney's board will shrink to 11 . All quotes delayed a minimum of 15 minutes. Includes location, related records, political party, and more. 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. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. That angers both sides, he said. . 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). Susan Arnold will succeed Bob Iger as the next Disney chairman. "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. Mutual Fund and ETF data provided byRefinitiv Lipper. - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. [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. Joseph Prezioso/ZUMA Wire. She is based in New York. The best of what to see, hear, eat, do, and more. Dec 1 (Reuters) - Walt Disney Co (DIS.N) 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 . Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. Do you know this baby? Christopher Palmeri. And it fired Mandalorian actress Gina Carano in February after she made what were considered right-wing comments on social media. On Nov. 29, Twitter announced that Taylor would become its chairperson. 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. 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. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Legal Statement. 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%. Disney shares were relatively flat in after-hours trading. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. "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. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . 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. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). What's the least amount of exercise we can get away with? Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. The Fair Political Practices Commission is looking at whether former Gov. Ms. Arnold has been a Director of the Company since 2007 and was elected as Chairman of the Board as of December 31, 2021. political party, a group of persons organized to acquire and exercise political power. 3 min read. ', 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. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. 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.. Mr. Iger 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. That it has taken so long to officially elect the former private equity executive as chairperson signals a bumpy process to clear a low bar. 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. 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. 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. In the vehicle market, certain brands (Subaru, Honda) appeal more to liberals and others (Ford, GMC) appeal more to conservatives, albeit without getting political themselves. Disney has a September fiscal year and usually issues its proxy statement which, among other things, lists the companys slate of directors up for election in January, and holds its shareholder meeting in March. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. "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. 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. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. "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. Advertisement. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. Sabado Domingo @SabadoD00554481. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. asks James Heskett. His departure marks the end of an era. Thanks for contacting us. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. With the departure of Arnold . Got a confidential news tip? 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. 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 chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. A backlash among Disney's senior executives grew to the point it reached the company's board. While Iger came from a creative background, thats not the case with Arnold. Language. (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." He said the worst possible move for a company is to take a position on a social issue but not follow through on it. All Rights Reserved. Market data provided byFactset. - Walt Disney said on Dec. 1 the board elected Susan Arnold who will replace Bob Iger as chairperson of Disneys board. This website is using a security service to protect itself from online attacks. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. Prior to that, she was Vice Chair of P&G Beauty and. They targeted moderate . James Smith. 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. A Division of NBCUniversal. Where he heads next is still an open question. Arnold is a 14-year member of the Disney . Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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.. 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. She is known for her involvement in several works by the entertainment giant company. Its been a tumultuous period for the company culminating in an abrupt CEO change in November as Bob Iger returned, taking the reins from Bob Chapek. She was an operating executive at The Carlyle Group until this year. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett 2023 CNBC LLC. FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. Photo by Marko Aliaksandr. To a Spreadsheet or Other File Type. Will the Marvel invincibility last? Susan E . As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. 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. The BBC is not responsible for the content of external sites. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. That fits with the direction Disney is headed in generally. And so on. As a result, the board will be reduced to 11 members. Read about our approach to external linking. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. 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. ", Gov. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. Disneys in a big moment of transition. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. Susan E. Arnold Bob Iger John S. Chen Judith L. Estrin Fred H. Langhammer Aylwin B. Lewis Monica C. Lozano Robert W. Matschullat Sheryl K. Sandberg Orin C. Smith Susan Arnold - Chairwoman Bob Iger -CEO James A. Rasulo - Senior Executive Vice President and CFO Alan N. Braverman - Senior . Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. "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. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? 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. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. 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 . 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. 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Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. There are almost daily memos, suggested readings, panels, and seminars that [are] all centered around antiracism, one employee told the outlet. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. She had joined Procter & Gamble in 1980 and held several management and marketing positions before becoming the manager of Procter & Gamble's cosmetics business in Canada in 1990. Picture taken July 24, 2021. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. Physics is the law, everything else is a recommendation.. 2023 KCRW All Rights Reserved. Arnold served as an operating executive at The . But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. 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. The far-left turn by the house of Mickey Mouse has led to sky-high tensions, but staffers are terrified about speaking out against the ideology, multiple employees told City-Journal. 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 . In some cases the restive employees are conservatives, not liberals. Philosopher. Powered and implemented byFactSet Digital Solutions. 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"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 voter registration of Susan Arnold (age 76) from Tamarac, Florida. This material may not be published, broadcast, rewritten, or redistributed. 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 . Your IP: Our Standards: The Thomson Reuters Trust Principles. 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 . See here for a complete list of exchanges and delays. The estimated Net Worth of Susan E Arnold is at least $5.99 Million dollars as of 2 June 2021. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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. Disney has a progressive record on sexuality and gender. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. noted on a politically optimistic earnings call two days after the election, he supports closing tax .
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