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. The Walt Disney Company has a big problem. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. Market data provided byFactset. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . The BBC is not responsible for the content of external sites. 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. 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. See here for a complete list of exchanges and delays. "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. 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. 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.. 1 He will be replaced by Susan Arnoldwho has been . Instead, they are often weaponized by one side or the other to further divide and inflame. Hell be succeeded by Susan Arnold. 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. 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. One C.E.O. All Rights Reserved. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Ms. Arnold has been a Director of the Company since 2007 and was elected as Chairman of the Board as of December 31, 2021. The Walt Disney Company has a big problem. All Rights Reserved. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. 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. Walt Disney Co. has announced that Susan E. Arnold will succeed Robert Iger as chairman of the board, the first time a woman has held the position at the company, effective December 31st. When Bob Iger officially leaves Disney at the end of . Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Joseph Prezioso/ZUMA Wire. In some cases the restive employees are conservatives, not liberals. [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]. [4][5][6], Since 2002, she has been listed on Fortune magazine's 50 Most Powerful Women in Business as #7 in 2008. 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. We want to hear from you. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. 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. Iger struck a reassuring tone in his first email to staff on . Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. 93. 2023 Deadline Hollywood, LLC. This website is using a security service to protect itself from online attacks. Contribution Totals. Disney has a progressive record on sexuality and gender. 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 . Disney's in a big moment of transition. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett 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 . Get the latest from KCRW in your inbox 3x a week. See here for a complete list of exchanges and delays. Description. 2020 Transaction Count/Amount. We've received your submission. 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 . Now theres the possibility that he could own a sports team or take on another big public role. Iger has a two year contract. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. 0. And so on. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. Anyone can read what you share. Chapek also engaged in a public battle with "Black Widow" star Scarlett Johansson, who sued the company over "breach of contract" after it decided to release the Marvel film on Disney+ the same day it hit theaters.Johansson and Disney eventually settled.. More recently, Chapek found himself in the political crossfire of Florida Governor Ron DeSantis, who revoked the company's special tax . 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. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. 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. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. ", HERITAGE ACTION CALLS OUT DISNEY: 'IT REALLY IS A WOKE WORLD AFTER ALL'. In one anti-racism training course, called Allyship for Race Consciousness, workers are taught that the US has a long history of systemic racism and transphobia and told they must take ownership of educating yourself about structural anti-black racism. He now holds two big jobs that will split his attention. She is known for her involvement in several works by the entertainment giant company. Iger, a former weatherman, joined the TV broadcast network ABC in 1974, where he developed iconic American TV shows, such as "America's Funniest Home Videos" and "Home Improvement," and helped in creating "Who Wants to Be a Millionaire.". Philosopher. Have feedback? Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. She was an operating executive at The Carlyle Group until this year. 10. The entrance to Disney World in Orlando, Florida. Iger is set to step away from the role by the end of this year. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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 . His attempt to keep out of the spotlight had failed. Tom Cruise and Steven Spielberg reconcile at Oscars luncheon, Disneys Bob Iger open to selling Hulu, plans exit in two years, Adam Scott, Lee Edward Colston II, and Sandy King Carpenter on The Treat, Wintering and enchantment: A pathway to healing and happiness, Born of persecution, Parsi cooking melds Persian and Indian cuisines, Playwright and actor Lee Edward Colston II on the beauty of a Black audience. Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. Arnold will begin her new role Dec. 31 . Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Read about our approach to external linking. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. Dec. 1, 2021 Updated 2:18 PM PT. 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 tensions seem to be intensifying. The great irony of this is that the people who are in charge of Disney are some of the richest and most powerful and privileged white males in the history of humanity and they are pushing this divisive, critical race theory based ideology as corporate dogma and the only end of this is division. Political parties originated in their modern form in Europe and the United States in the 19th century, along with the electoral and parliamentary systems, whose development reflects the evolution of parties. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Disneys in a big moment of transition. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. 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. To a Spreadsheet or Other File Type. James Smith. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Disney. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. What science tells us about the afterlife. Photo by Marko Aliaksandr. Predecessor. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Weve already seen that happen a bit. Mutual Fund and ETF data provided byRefinitiv Lipper. The company is completely ideologically one-sided and actively discourages Christian and or conservative workers from speaking their mind, the worker said. 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. And it fired Mandalorian actress Gina Carano in February after she made what were considered right-wing comments on social media. Chairman of the board Bob Iger leaves at the end of 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. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. Ron DeSantis' new Parental Rights in Education law because the company is dedicated to standing up for the rights and safety of the LGBTQ+ community. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. 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. Do Not Sell or Share My Personal Information. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". Chairman of the Board. The more a company does, the more it is expected to do. Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. Arnold thanked Chapek for leading the company through the pandemic. December 2, 2021. This material may not be published, broadcast, rewritten, or redistributed. "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," said Susan Arnold, Disney's chairman (who will keep that title), in a written statement. -. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. Signup for Breaking News Alerts & Newsletters. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Language. Jeannetta Arnette. For the last eight years Ms Arnold has been an executive at Carlyle Group, having previously held roles at consumer goods giant Procter and Gamble and fast food chain McDonald's. In February 2021, the research company Gartner did a survey of 3,000 workers that found 68 percent would consider quitting their current job and working with an organization with a stronger viewpoint on the social issues that matter most to them. ', 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. 4. Title. 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. Naked man claiming to have bomb causes 8-hour traffic jam Canadian teacher with size-Z prosthetic breasts placed on paid leave, Buster Murdaugh got 'very drunk' with dad 2 months after mom, brother murdered: source, I'm a professional cleaner ditch these 4 household products immediately, Tom Sandoval speaks out on Raquel Leviss affair: I deserve your anger, Shoeless Ariana Madix awkwardly tries to avoid cheating Tom Sandoval, Prince Harry was scared to lose Meghan Markle after fight that led to therapy, Memphis Grizzlies star Ja Morant allegedly flashes gun at a strip club, Tom Sizemore And The Dangerous Burden of Desperation, Ariana Madix, Tom Sandoval have awkward moment amid cheating scandal. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . ", Gov. 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. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. from 1999 to present. 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. While Iger came from a creative background, thats not the case with Arnold. "Mark Parker is an incredibly well-respected leader who over seven years. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Send a note to coy-newsletter@nytimes.com. That fits with the direction Disney is headed in generally.