She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. 3 min read. To a Spreadsheet or Other File Type. Arnold is bumping up against Disneys own corporate governance guidelines that state the board wont nominate for re-election any non-management director after completing 15 years of service. Chairwoman. Get the latest from KCRW in your inbox 3x a week. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. At the time, Iger was observing Disney's performance as a shareholder, but he had no intention of returning. ', 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. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. This material may not be published, broadcast, rewritten, or redistributed. Chairman of the board Bob Iger leaves at the end of 2021. 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. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. 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. As a subscriber, you have 10 gift articles to give each month. Sabado Domingo @SabadoD00554481. [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. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. 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 . Send us a tip using our annonymous form. All quotes delayed a minimum of 15 minutes. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Get this delivered to your inbox, and more info about our products and services. ", Gov. Joseph Prezioso/ZUMA Wire. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Iger has been gradually removing himself from active . A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. 2023 BBC. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. What science tells us about the afterlife. Susan Arnold is an American business executive and chairwoman of Walt Disney. The Walt Disney Company has had a long-term track record of financial and creative success, built on the ability to leverage its rich intellectual property and unparalleled storytelling across its many businesses, from theatrical, streaming and linear broadcast to parks and resorts, and one of the most resonant names in sports, ESPN. Also known as. 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. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. ", HERITAGE ACTION CALLS OUT DISNEY: 'IT REALLY IS A WOKE WORLD AFTER ALL'. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. If anything it made Disney more vulnerable because employees and other stakeholders expected the company to live up to its own expressed values. "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. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. 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. Parker's appointment is The term party has since come to be applied to all organized groups seeking political power, whether . The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. There was talk of him serving as ambassador to China, but that never came to be. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. 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. 1 He will be replaced by Susan Arnoldwho has been . On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . Do you know this baby? Performance & security by Cloudflare. 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. susan arnold disney political party. "The decision of The Walt Disney Corporation to promote the introduction of age-inappropriate sexual material in kindergarten classrooms, including radical gender ideology, and to fight the democratically-elected government of Florida in order to achieve this end, jeopardizes the financial future of the company and its shareholders in service of an extreme political agenda," AFL President Miller told FOX Business. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. Anyone can read what you share. 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. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. 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. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. Advertisement. 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. FLORIDA REPUBLICANS CONDEMN 'WOKE' DISNEY, URGE MORE BOYCOTTS BY CONSERVATIVES AGAINST THE 'ACTIVIST MACHINE'. She is a white, non hispanic female registered to vote in Broward County . noted on a politically optimistic earnings call two days after the election, he supports closing tax . 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 . Where he heads next is still an open question. Mr Iger, who stepped down as Disney's chief executive in 2020 after 15 years in the role, will leave the company by the end of this month. Trust in Congress is decreasing. The tensions seem to be intensifying. 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. [11][12] She was elected chair on December 31, 2021. BREAKING: Mark Parker Named New Disney Chairman, Succeeding Susan Arnold. Send a note to coy-newsletter@nytimes.com. 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. 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. Have feedback? FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. In his time as chief executive Disney made a number of major acquisitions, including the takeovers of Pixar, Marvel, Lucasfilm and 21st Century Fox. "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. Specialty Preview, Ozy Media Closes In Wake Of Founder Carlos Watson Scandal, TikTok Introduces New Feature To Limit Screen Time For Teens, Prolific Actor Dies At 61 After Aneurysm; Hollywood Reax + Career In Photos, Eyes $51M+ Opening In U.S., A Record For Rocky Spinoff Franchise & Amazon, SAG-AFTRA And Casting Directors Weigh In On Self-Tape Controversy, Oscar Winner Guillermo del Toro On The Films That Lit His Fuse. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. You can email the site owner to let them know you were blocked. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. 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.. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. That angers both sides, he said. 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.". 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. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. We've received your submission. 2018 Transaction Count/Amount. See here for a complete list of exchanges and delays. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. This story has been shared 123,414 times. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. "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. 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. She was formerly an executive at global investment firm Carlyle. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. Susan Arnold had been named as chairperson of the board of the Walt Disney Company - Get Free Report replacing Robert Iger, effective December 31, 2021. 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. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. 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 succeed Bob Iger as the next Disney chairman. Chairman of the Board. James Smith. Thanks for contacting us. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 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. They targeted moderate . Gov. 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. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Editing by Lauren Silva Laughlin and Sharon Lam, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. Arnold is a 14-year member of the Disney . Includes location, related records, political party, and more. 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 . Arnold has been a member of Disneys board since 2007. 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. He then joined Disney and became the CEO in 2005. 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. Iger has a two year contract. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. 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.. Chris Palmeri reports. Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. "Mark Parker is an incredibly well-respected leader who over seven years. "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. Read about our approach to external linking. Physics is the law, everything else is a recommendation.. Our Standards: The Thomson Reuters Trust Principles. She was an operating . [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. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. 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. The Board of The Walt Disney Company has been continually refreshed, with a focus on directors whose industry experience is additive to the companys strategic priorities. 38/$4,515. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. She is known for her involvement in several works by the entertainment giant company. It's a woke world after all. -. 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 . 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. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. On Nov. 29, Twitter announced that Taylor would become its chairperson. The more a company does, the more it is expected to do. As part of the challenge, staffers learn about their white privilege and are asked to fill out a white privilege checklist, with choices such as: I am white, I am heterosexual, I am a man, I still identity as the gender I was born in, I have never been raped, I dont rely on public transportation, and I have never been called a terrorist., The company has recently shown a willingness to embrace the new ideology, adding content advisories to films such as Dumbo, Aladdin, and Fantasia.. 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 $260 billion media giant named Susan Arnold on Wednesday as . Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 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. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. Arnold will begin her new role Dec. 31 . 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. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. While Iger came from a creative background, thats not the case with Arnold. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. The date of the Annual Meeting has not yet been announced. The Walt Disney Co. has named board member Susan Arnold chairman, replacing Bob Iger when he steps down at the end of the year.. Arnold is a 14-year member of the Disney (NYSE: DIS) board who has . What's the least amount of exercise we can get away with? "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. Susan E . 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%. Chairman of the board Bob Iger leaves at the end of 2021. 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. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. Do Not Sell or Share My Personal Information. Are you going to stand up for them or not?. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Disney has a new board chair, and she's a gay woman. The BBC is not responsible for the content of external sites. Description. "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. 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 (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. 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. Mutual Fund and ETF data provided byRefinitiv Lipper. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Susan Arnold . 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.. In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. Iger is set to step away from the role by the end of this year. 4. 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. The change will take effect after the company's annual shareholder meeting. Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. 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.. Market data provided byFactset. The company made the announcement today. His attempt to keep out of the spotlight had failed. All Rights Reserved. She is based in New York. "[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. 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. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett 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. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. 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 . 2023 KCRW All Rights Reserved. 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.