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. Susan Arnold will succeed Bob Iger as the next Disney chairman. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. The Walt Disney Company 's board of directors has named Susan Arnold, a 14-year member of the board, as its new chair, succeeding the outgoing Bob Iger. She was an operating . There was talk of him serving as ambassador to China, but that never came to be. All Rights Reserved. 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 Walt Disney Company has a big problem. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . 42/$4,105. 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. 0. She has stepped back from her private equity job, which is a step better than Twitter (TWTR.N). 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 . "Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". 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. This website is using a security service to protect itself from online attacks. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. Warner Bros. golden ticket: Will they make new Lord of the Rings films? 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 best of what to see, hear, eat, do, and more. Disney names Susan Arnold to replace Bob Iger as chairman - L.A That puts her well above the average tenure of directors at companies in the S&P 500 Index, which stands at nearly 8 years, according to executive search firm Spencer Stuart. 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. All rights reserved. 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. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. Ms. Arnold has been a Director of the Company since 2007 and was elected as Chairman of the Board as of December 31, 2021. She is a white, non hispanic female registered to vote in Broward County . 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. Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images), GET FOX BUSINESS ON THE GO BY CLICKING HERE, Nothing in the Florida legislation itself mentions the word "gay." 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.. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . 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. Disney Names Susan Arnold Chairman as Iger Nears Departure Bob Iger appointed as Disney's next CEO - indianexpress.com FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. Bob Iger return puts Disney on collision course with Ron DeSantis It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. "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. Join Facebook to connect with Susan Arnold and others you may know. Legal Statement. susan e arnold political party Chairman of the board Bob Iger leaves at the end of 2021. Parker's appointment is The company is completely ideologically one-sided and actively discourages Christian and or conservative workers from speaking their mind, the worker said. When Disney Decided to Dump its CEO, the Change Happened Fast Susan E. Arnold, a 14-year member of the Walt Disney Co.'s board of directors, will take the helm as board chairman, effective 31, the company announced Wednesday. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. 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. 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 . "Mark Parker is an incredibly well-respected leader who over seven years. 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.. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 1 He will be replaced by Susan Arnoldwho has been . 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. 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. Susan Arnold (Q535362) Susan Arnold. "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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Click to reveal Send us a tip using our annonymous form. Susan Arnold - $10,118 in Political Contributions for 2004 Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. from 1999 to present. 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. 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 . Contribution Totals. Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. 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. 2023 CNBC LLC. 2023 BBC. Title. 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. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. 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 . 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. The . (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 . 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. Susan Arnold Net Worth (2022) | wallmine AFL cites an open letter from an unspecified number of Disney employees criticizing the company's political statements, as well as an article published on Quillette, an online magazine, from someone claiming to be a "company insider" condemning the group's internal messaging. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. This isnt just a Disney issue. 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 . Where he heads next is still an open question. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. Arnold, who has sat on the Mouse House's board for 14 years and who has . Disney Board Member Susan Arnold To Succeed Bob Iger As - Yahoo! Get this delivered to your inbox, and more info about our products and services. Susan Arnold . The BBC is not responsible for the content of external sites. On behalf of my fellow Board members and the entire Disney management team, I also want to thank Susan for her superb leadership as Chairman and for her tireless work over the past 15 years as an exemplary steward of the Disney brand., Said Mr. Parker: I am honored to have the opportunity to serve as Disneys Chairman, and I look forward to working closely with Bob and his management team on a strategy of growth that balances investment with profitability, while preserving Disneys core mission of creative excellence, to deliver shareholder value.