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. 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. The Fair Political Practices Commission is looking at whether former Gov. This story has been shared 123,414 times. Susan Arnold will succeed Bob Iger as the next Disney chairman. . 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.. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. [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. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. 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. The memo failed to tamp down employees outrage over the legislation, which is supported by Ron DeSantis, the Republican governor and a potential 2024 presidential candidate. but a. 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. 2023 NYP Holdings, Inc. All Rights Reserved, Disney may sell its 67% stake in Hulu to buy more Marvel rights: analyst, Critics slam woke live-action Peter Pan trailer, How the rich do Disney and its nothing like us commoners, Jude Law as Captain Hook in Peter Pan & Wendy triggers backlash. Label. Chairwoman. - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. 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. Susan E. Arnold. Arnold, who was a former executive at the Carlyle Group, joined the Disney board in 2007. 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.". 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. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from the company. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. By subscribing, I agree to the Terms of Use and Privacy Policy. "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. Predecessor. A backlash among Disney's senior executives grew to the point it reached the company's board. Disneys chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. 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 . Get the latest from KCRW in your inbox 3x a week. 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. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Disney is pushing critical race theory on employees through a new plan called "Reimagine Tomorrow," urging workers to recognize their . 2021-present. Description. Instead, they are often weaponized by one side or the other to further divide and inflame. 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. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Term. December 2, 2021. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. 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. 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. On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. (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 . But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. 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. The $260 billion media giant named Susan Arnold on Wednesday as . Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. 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.. His attempt to keep out of the spotlight had failed. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 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. Arnold is a 14-year member of the Disney . 93. 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.". Send us a tip using our annonymous form. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. The estimated Net Worth of Susan E Arnold is at least $5.99 Million dollars as of 2 June 2021. Hell be succeeded by Susan Arnold. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. On Nov. 29, Twitter announced that Taylor would become its chairperson. Warner Bros. golden ticket: Will they make new Lord of the Rings films? Sign up for free newsletters and get more CNBC delivered to your inbox. Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. Chris Palmeri reports. He'll be succeeded by Susan Arnold. One C.E.O. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. When Bob Iger officially leaves Disney at the end of . It's a movement. That angers both sides, he said. 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 . The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . A Division of NBCUniversal. In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. All quotes delayed a minimum of 15 minutes. 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. By Ryan Faughnder Staff Writer. You can email the site owner to let them know you were blocked. 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 . 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. 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. 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. from 1999 to present. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. The entrance to Disney World in Orlando, Florida. Legal Statement. Arnold has been a member of Disneys board since 2007. In his time as chief executive Disney made a number of major acquisitions, including the takeovers of Pixar, Marvel, Lucasfilm and 21st Century Fox. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. Will the Marvel invincibility last? Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. 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. The move takes . 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 . Also known as. Performance & security by Cloudflare. She retired from Procter & Gamble on September 1, 2009. Weve already seen that happen a bit. Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. Susan Arnold Young, Education, Political Party, Movies. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. I interviewed Brian Kropp, chief of research in Gartners human resources practice. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. ', 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. Download all contribution records for this person. Now theres the possibility that he could own a sports team or take on another big public role. 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. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 42/$4,105. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. 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.". 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 . Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. Ant Man gets poor reviews. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. . Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. 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. Disney has a new board chair, and she's a gay woman. 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. 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. Susan Arnold will succeed Bob Iger as the next Disney chairman. Disney shares were relatively flat in after-hours trading. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. She was listed multiple times on the Forbes list of The World's Most Powerful Women and in 2005 she was #16 on Forbes' The World's 100 Most Powerful Women list. The tensions seem to be intensifying. Where he heads next is still an open question. Susan Arnold is an American business executive and chairwoman of Walt Disney. 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 served as president of the global business units of Procter & Gamble from 2007 to 2009 and was also a member of the board at McDonald's from 2008 to 2016. Advertisement. The move comes as the company faces a proxy fight with an influential activist shareholder. Opinions expressed are those of the author. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. 4. Consumers are turning to vote with their dollar.. [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. political party, a group of persons organized to acquire and exercise political power. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Send a note to coy-newsletter@nytimes.com. 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. Read about our approach to external linking. Title. 3 min read. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. "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. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. 2023 Deadline Hollywood, LLC.