", HERITAGE ACTION CALLS OUT DISNEY: 'IT REALLY IS A WOKE WORLD AFTER ALL'. 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 . [11][12] She was elected chair on December 31, 2021. 42/$4,105. 2023 CNBC LLC. She is based in New York. All Rights Reserved. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. Legal Statement. Parker, a Disney board director since 2016 and current executive chairman of Nike, will succeed Susan Arnold, a veteran business leader who is not standing for reelection due to . Susan Arnold will succeed Bob Iger as the next Disney chairman. Parker's appointment is Yes, even on a piece of state legislation that did not directly involve Disney. Got a confidential news tip? "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. All rights reserved. On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. "Having most recently served as independent Lead Director, Susan is the perfect choice for Chairman of the Board, and I am confident the Company is well-positioned for continued success under her guidance and leadership," Iger said in a statement. View the profiles of people named Susan Arnold. 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. 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. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. Susan E . Send a note to coy-newsletter@nytimes.com. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The Walt Disney Company Board has continued to evolve to ensure it has the right combination of backgrounds, skill sets and perspectives to guide the Company into the future. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. 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. 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 . Iger struck a reassuring tone in his first email to staff on . 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. When is Eurovision and how do you get tickets? 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. 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. 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. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Have feedback? James Smith. Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. In a note published today, called Restore The Magic, Trian said Disney is at a crossroads. 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.". 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.". 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. Anyone can read what you share. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. "[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 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 . Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. 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. Susan Arnold Biography. Dec. 1, 2021 Updated 2:18 PM PT. [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. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. That angers both sides, he said. . Arnold thanked Chapek for leading the company through the pandemic. 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. While Iger came from a creative background, thats not the case with Arnold. Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. 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. 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. "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. Sabado Domingo @SabadoD00554481. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. The company made the announcement today. Joseph Prezioso/ZUMA Wire. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. Philosopher. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. 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 . 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. This material may not be published, broadcast, rewritten, or redistributed. 67.227.155.73 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. She was formerly an executive at global investment firm Carlyle. 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. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. 2021-present. Do you know this baby? Susan Arnold . Warner Bros. golden ticket: Will they make new Lord of the Rings films? She was a director of McDonalds Corporation from 2008 to 2016, and was a director of NBTY, Inc. from 2013 to 2017. The entrance to Disney World in Orlando, Florida. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. To a Spreadsheet or Other File Type. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. 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. What's the least amount of exercise we can get away with? A Division of NBCUniversal. Arnold thanked Chapek for leading the company through the pandemic. "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. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). Quotes displayed in real-time or delayed by at least 15 minutes. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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 . -. Weve already seen that happen a bit. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. The great irony of this is that the people who are in charge of Disney are some of the richest and most powerful and privileged white males in the history of humanity and they are pushing this divisive, critical race theory based ideology as corporate dogma and the only end of this is division. Iger led Disney for 15 years before stepping down in 2020. . Chairman of the Board. Health workers in protective gear carry out tests at the theme park, Disney and Scarlett Johansson settle lawsuit, New Disney movies to debut exclusively in cinemas, Shang-Chi leads cinema fightback at box office, Historic ocean treaty agreed after decade of talks, China looks at reforms to deepen Xi's control, Inside the enclave surrounded by pro-Russia forces, 'The nurses wanted me to feel guilty about my abortion, From Afghan TV fame to a US factory floor. Term. 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. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. 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. (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. Consumers are turning to vote with their dollar.. 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. it kicked off a political backlash with conservative lawmakers and media outlets pushing boycotts and labeling Disney as too "woke . Our Standards: The Thomson Reuters Trust Principles. Theyre disappointed but theyre not mad on average., Kropp said he feels for corporate chiefs who are bogged down in the culture wars. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. 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. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. 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. Arnold is a 14-year member of the Disney . I interviewed Brian Kropp, chief of research in Gartners human resources practice. They Were Secretly Conservative Spies. Susan Arnold Young, Education, Political Party, Movies. 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. 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.
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