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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. Photo by Marko Aliaksandr. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. "Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that. The $260 billion media giant named Susan Arnold on Wednesday as . Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Iger has a two year contract. 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. The best of what to see, hear, eat, do, and more. This story has been shared 123,414 times. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. 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. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. Term. Arnold, who was a former executive at the Carlyle Group, joined the Disney board in 2007. 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. That angers both sides, he said. Susan Arnold will succeed Bob Iger as the next Disney chairman. American First Legal (AFL) senior counselor Reed Rubinstein argues in a letter written on behalf of "concerned shareholders and customers of" Disney that the company's management "may be" in violation of Title VII of the Civil Rights Act; Florida's Civil Rights Act; and California Labor Code sections 1101 and 1102. Chairman of the board Bob Iger leaves at the end of 2021. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. She is based in New York. Susan E . Putting names to archive photos, The children left behind in Cuba's mass exodus, In photos: India's disappearing single-screen cinemas. Mr Iger's exit marks the end of an era for Disney, who has been in a senior role at the company since 1996. That fits with the direction Disney is headed in generally. With the departure of Arnold, Disney's board will shrink to 11 . 1 He will be replaced by Susan Arnoldwho has been . Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. 2023 FOX News Network, LLC. By Prince Akoenyenu November 21, 2022. A backlash among Disney's senior executives grew to the point it reached the company's board. 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. Have feedback? Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Market data provided byFactset. 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. "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. [11][12] She was elected chair on December 31, 2021. 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 served as an operating executive at The . Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Disneys in a big moment of transition. Arnold will begin her new role Dec. 31 . Do Not Sell or Share My Personal Information. 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. 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. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. Prior to that, she was Vice Chair of P&G Beauty and. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. Disney. They targeted moderate . Contribution Totals. Performance & security by Cloudflare. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. Iger struck a reassuring tone in his first email to staff on . 3 min read. Send a note to coy-newsletter@nytimes.com. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. With the departure of Arnold . told me, If we get involved in everything our employees want to get involved in, that would become my full-time job. On the other hand, Kropp said: Youve got a set of values. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. Disney shares were relatively flat in after-hours trading. 2023 Deadline Hollywood, LLC. We want to hear from you! 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 . . She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. . Facebook gives people the power to. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. The change will take effect after the company's annual shareholder meeting. 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. Yes, even on a piece of state legislation that did not directly involve Disney. Read about our approach to external linking. The author discusses which mechanisms have proven particularly Arnold, Elden Elwood (1900-1978) also known as Elden E. Arnold of Britton, Marshall County, S.Dak. 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 . Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. Chris Palmeri reports. [4][5][6], Since 2002, she has been listed on Fortune magazine's 50 Most Powerful Women in Business as #7 in 2008. Susan Arnold - Credit: dailyO. Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. 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. And Ive continually gotten the unspoken answer: no, the employee told the outlet. What science tells us about the afterlife. Physics is the law, everything else is a recommendation.. 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. 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? ", Gov. 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. Under him, the behemoth acquired Pixar . #Disney #BobIger #BobChapek Bob Iger strenghtens his grip on Disney by ousting Susan Arnold as Chairman of the Board, install a cronie in her place . - Walt Disney said on Dec. 1 the board elected Susan Arnold who will replace Bob Iger as chairperson of Disneys board. We've received your submission. In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. 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. According to Forbes, Susan Arnold got her start as a brand assistant on the Dawn/Ivory Snow Group. 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. 10. Disney has a new board chair, and she's a gay woman. All quotes delayed a minimum of 15 minutes. 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. Now theres the possibility that he could own a sports team or take on another big public role. One C.E.O. 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. Send us a tip using our annonymous form. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Iger has been gradually removing himself from active . Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. Get the latest from KCRW in your inbox 3x a week. On Nov. 29, Twitter announced that Taylor would become its chairperson. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. Chairman of the Board. 2023 KCRW All Rights Reserved. "[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. When is Eurovision and how do you get tickets? 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.". Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. 2023 BBC. Advertisement. Download all contribution records for this person. Includes location, related records, political party, and more. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . ', 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. Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. This material may not be published, broadcast, rewritten, or redistributed. All Rights Reserved. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. She is a white, non hispanic female registered to vote in Broward County . During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. By Ryan Faughnder Staff Writer. but a. 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. edit. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. The article describes an environment in which some Disney employees allegedly found themselves "the target of scrutiny and likely termination" if they spoke out against Disney's political stances. But that progressive record was no shield from criticism. 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 . (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). 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. They Were Secretly Conservative Spies. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Consumers are turning to vote with their dollar.. James Smith. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. 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. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. He now holds two big jobs that will split his attention. 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. FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. 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. Thanks for contacting us. She was an operating . 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. [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]. Chairman of the board Bob Iger leaves at the end of 2021. What's the least amount of exercise we can get away with? Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Get our latest storiesin the feed of your favorite networks. - Salesforce.com on Nov. 30 said it promoted Bret Taylor to co-chief executive. Iger is set to step away from the role by the end of this year. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. "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 . Deadline is a part of Penske Media Corporation. 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%. The Fair Political Practices Commission is looking at whether former Gov. 42/$4,105. Quotes displayed in real-time or delayed by at least 15 minutes. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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 E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. Instead, they are often weaponized by one side or the other to further divide and inflame. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 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. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. 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. Description. 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. Arnold thanked Chapek for leading the company through the pandemic. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Our Standards: The Thomson Reuters Trust Principles. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. Ant Man gets poor reviews. 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. Disney's in a big moment of transition. "Mark Parker is an incredibly well-respected leader who over seven years. It's a woke world after all. Opinions expressed are those of the author. susan arnold disney political party. Join Facebook to connect with Susan Arnold and others you may know. Mr. Parker will also chair a newly created Succession Planning Committee of the Board, which will advise the Board on CEO succession planning, including review of internal and external candidates. Susan E. Arnold. As a result, the board will be reduced to 11 members. 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. Chairman of the board Bob Iger leaves at the end of 2021. Disney has a progressive record on sexuality and gender. 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 . [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. Arnold, who has sat on the Mouse House's board for 14 years and who has . Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. Arnold has served as the panel . 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. Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. Theyre disappointed but theyre not mad on average., Kropp said he feels for corporate chiefs who are bogged down in the culture wars. 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. 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. 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 . 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.. Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. 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.