That fits with the direction Disney is headed in generally. 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. He now holds two big jobs that will split his attention. . 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. In some cases the restive employees are conservatives, not liberals. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. 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. Gov. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. We want to hear from you! 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. As Chapek noted in his memo, Disney has earned a 100 percent rating from the Human Rights Campaign for the past 16 years. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. At the time, Iger was observing Disney's performance as a shareholder, but he had no intention of returning. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. A backlash among Disney's senior executives grew to the point it reached the company's board. "[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. Susan Arnold will succeed Bob Iger as the next Disney chairman. 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 . The Walt Disney Company. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. 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. 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 . 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. In 2016, the firm opened its first theme park and resort in mainland China. Language. Arnold thanked Chapek for leading the company through the pandemic. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? 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 . Arnold served as an operating executive at The . 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.. This website is using a security service to protect itself from online attacks. She was an operating executive at The Carlyle Group until this year. Chris Palmeri reports. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. 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. The date of the Annual Meeting has not yet been announced. Iger is set to step away from the role by the end of this year. They targeted moderate . Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. Iger led Disney for 15 years before stepping down in 2020. . But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. The company is completely ideologically one-sided and actively discourages Christian and or conservative workers from speaking their mind, the worker said. "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. The best of what to see, hear, eat, do, and more. Susan Arnold Young, Education, Political Party, Movies. Facebook gives people the power to. Susan E . With the departure of Arnold . To a Spreadsheet or Other File Type. Christopher Palmeri. 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.". 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. A day later, the $250 billion Salesforce.com (CRM.N) promoted Taylor to co-chief executive. "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. Label. 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. Several other Disney executives have announced plans to leave by the end of this year, including studios head Alan Horn, president and chief creative officer of Disney Branded Television Gary Marsh and company general counsel Alan Braverman. 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. Click to reveal Join Facebook to connect with Susan Arnold and others you may know. The Walt Disney Company has a big problem. This isnt just a Disney issue. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. Read about our approach to external linking. She was an operating . There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. This is a list of The Walt Disney Company's Executive Management Team, both present and historical. 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. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. 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 . She is known for her involvement in several works by the entertainment giant company. 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. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. Data is a real-time snapshot *Data is delayed at least 15 minutes. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. from 1999 to present. She's also been a director at McDonald's . 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. ', Last edited on 16 February 2023, at 11:27, "Susan E Arnold, Walt Disney Co: Profile and Biography - Bloomberg Markets", "Susan Arnold Named Chairman of the Board of The Walt Disney Company, Effective December 31", "The Walt Disney Company - Susan Arnold Biography", "Susan Arnold, The Most Powerful Women - Forbes.com", "The Walt Disney Company - News from the Disney Board - May 01, 2007", "Dr Jeffrey Obomeghie and Dupe Olusola among the 100 most powerful people in global hospitality", "Disney names Susan Arnold as board chair, replacing Bob Iger", "Disney appoints woman as chair for first time in 98-year history", "Susan Arnold: After 98 years, Walt Disney gets first woman chair", "Disney Appoints Mark Parker As Chairman of the Board, Replacing Susan Arnold", https://en.wikipedia.org/w/index.php?title=Susan_Arnold&oldid=1139689950, This page was last edited on 16 February 2023, at 11:27. Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. She has also served in senior roles at some of America's biggest companies. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. 2018 Transaction Count/Amount. Opinions expressed are those of the author. And Ive continually gotten the unspoken answer: no, the employee told the outlet. Disneys chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. If anything it made Disney more vulnerable because employees and other stakeholders expected the company to live up to its own expressed values. 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. Disney is pushing critical race theory on employees through a new plan called "Reimagine Tomorrow," urging workers to recognize their . Arnold has served as the panel . The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. 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. Disney's in a big moment of transition. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Arnold, who has sat on the Mouse House's board for 14 years and who has . Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. "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. #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 . Arnold has served on the board of directors of The Walt Disney Company since 2007,[3] as well as the Carlyle portfolio investments company NBTY, The Nature's Bounty Co. She has also been a member of the Board of Directors of McDonald's Co. since 2008. Mutual Fund and ETF data provided byRefinitiv Lipper. 0. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. Iger has been gradually removing himself from active . Iger has a two year contract. 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.". Disney. The entrance to Disney World in Orlando, Florida. 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. The . noted on a politically optimistic earnings call two days after the election, he supports closing tax . All quotes delayed a minimum of 15 minutes. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Are you going to stand up for them or not?. 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. 38/$4,515. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. Description. Susan Arnold (Q535362) Susan Arnold. Picture taken July 24, 2021. "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. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. 2021-present. The term party has since come to be applied to all organized groups seeking political power, whether . 3 min read. "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 Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. but a. Sign up for free newsletters and get more CNBC delivered to your inbox. When is Eurovision and how do you get tickets? We've received your submission. This material may not be published, broadcast, rewritten, or redistributed. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. His attempt to keep out of the spotlight had failed. 10. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . Yes, even on a piece of state legislation that did not directly involve Disney. "Mark Parker is an incredibly well-respected leader who over seven years. Powered and implemented byFactSet Digital Solutions. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. But that progressive record was no shield from criticism. Consumers as well as employees have gotten used to thinking of companies as political players, she said: The traditional political process may be seen as less efficacious. 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. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. 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 E. Arnold. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. "The Street likes Mr. Iger almost as much . 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. 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 .
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