"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. Consumers are turning to vote with their dollar.. Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. Market data provided byFactset. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. Physics is the law, everything else is a recommendation.. 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. Got a confidential news tip? Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. "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. 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. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The BBC is not responsible for the content of external sites. 38/$4,515. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 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. 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. On Wednesday, Chapek made his first public statement against the bill at the companys annual shareholder meeting, which was dominated by talk of Dont Say Gay rather than the companys (strong) financial condition. Yes, even on a piece of state legislation that did not directly involve Disney. According to Forbes, Susan Arnold got her start as a brand assistant on the Dawn/Ivory Snow Group. Get our latest storiesin the feed of your favorite networks. 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. Earlier today, the Walt Disney Company Board of Directors elected Susan Arnold as Chairman of the Board. But Disneys appointment could have been more thoughtful. Disney is putting an emphasis on growing its streaming video product Disney+, which is already hitting a slowdown in subscribers. The industry leader for online information for tax, accounting and finance professionals. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. 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. 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 . 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 (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. Iger is set to step away from the role by the end of this year. Harry: I always felt different to rest of family, Chris Rock talks Oscars slap in live Netflix show, Everything Everywhere wins big ahead of Oscars, PM to end asylum claims from small boat arrivals, US-made cheese can be called 'gruyere' - court, Mbappe breaks PSG goal record in win over Nantes. Arnold thanked Chapek for leading the company through the pandemic. Mr Iger's exit marks the end of an era for Disney, who has been in a senior role at the company since 1996. This material may not be published, broadcast, rewritten, or redistributed. 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. 1 He will be replaced by Susan Arnoldwho has been . I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. 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. Disney has a new board chair, and she's a gay woman. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. #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 . While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, 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 (noted above). asks James Heskett. 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 . 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 . Have feedback? Cloudflare Ray ID: 7a2f8c127fb98108 Anyone can read what you share. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. 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. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? 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.. Its been very stifling to feel like everyone keeps talking about having open dialogue and compassionate conversations, but when it comes down to it, I know if I said one thing that was truthful, based on data, or even just based on my own personal experience, it would actually be rather unwelcomed, the person continued. The move comes as the company faces a proxy fight with an influential activist shareholder. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. Weve already seen that happen a bit. But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Disney has a progressive record on sexuality and gender. Disney is replacing Bob Iger, who will soon wrap up his decades-long tenure at the company, with Susan Arnold as chairman of the board. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. 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. 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? 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. Susan E. Arnold. Click to reveal Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. 2021-present. 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. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. Hell be succeeded by Susan Arnold. 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. 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. 2020 Transaction Count/Amount. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. 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. susan arnold disney political party. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Language. Do you know this baby? 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. Philosopher. Disney recommends its staffers hit the books, suggesting one essay that encourages parents to commit to raising race-consciousness in children and which teaches that even babies discriminate against members of other races. 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. 93. Read about our approach to external linking. 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. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. 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. Susan Arnold Young, Education, Political Party, Movies. Are you going to stand up for them or not?. 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. Arnold will begin her new role Dec. 31 . 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. The Walt Disney Company. 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.. 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. They are also able to put foward shareholder proposals. "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. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. Title. Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. 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. Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. All Rights Reserved. 0. A Division of NBCUniversal. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. noted on a politically optimistic earnings call two days after the election, he supports closing tax . 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. Send us a tip using our annonymous form. The action you just performed triggered the security solution. She'll succeed Bob Iger, who stepped down as Disney CEO early last year. Download all contribution records for this person. Opinions expressed are those of the author. The Walt Disney Company has a big problem. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. 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. Legal Statement. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. "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. Get the latest from KCRW in your inbox 3x a week. "Apparently, the Companys executives have chosen to discriminate, create a hostile work environment, and drive away creative, loyal, and talented employees; alienate the Companys core customers; and violate the law, all for the purpose of advancing a very narrow political and social agenda promoting, inter alia, sexualizing content provided to young children," the letter to Disney states. ", HERITAGE ACTION CALLS OUT DISNEY: 'IT REALLY IS A WOKE WORLD AFTER ALL'. 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. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. Chris Palmeri reports. [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 . 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. 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. 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.. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. 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 . Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Hell be succeeded by Susan Arnold. 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.". Advertisement. When is Eurovision and how do you get tickets? Susan E . Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. See here for a complete list of exchanges and delays. 2023 KCRW 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 . Walt Disney named former Carlyle Group and Procter & Gamble Co. executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from the company. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. Susan Arnold (Q535362) Susan Arnold. 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. 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. 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. 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. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett BREAKING: Mark Parker Named New Disney Chairman, Succeeding Susan Arnold. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. Iger has a two year contract. "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. As Chapek noted in his memo, Disney has earned a 100 percent rating from the Human Rights Campaign for the past 16 years. - Walt Disney said on Dec. 1 the board elected Susan Arnold who will replace Bob Iger as chairperson of Disneys board. Susan Arnold . 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 . 3 min read. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. 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. The entrance to Disney World in Orlando, Florida. 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. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. But mammoth companies like Disney arent usually ready to give up on any part of their customer base, so the stresses of political involvement are likely to continue. And Ive continually gotten the unspoken answer: no, the employee told the outlet. 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. Predecessor. Prior to that, she was Vice Chair of P&G Beauty and. Read about our approach to external linking. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). 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. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. 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.". This story has been shared 123,414 times. 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. The . In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. 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 . 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. In his time as chief executive Disney made a number of major acquisitions, including the takeovers of Pixar, Marvel, Lucasfilm and 21st Century Fox. 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. Arnold has served as the panel . Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . This isnt just a Disney issue. Disney shares were relatively flat in after-hours trading. 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 . Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. As a subscriber, you have 10 gift articles to give each month. 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.. On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. Arnold becomes the first woman to chair Disney's board in the entertainment giant's 98-year history. Christopher Palmeri. 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. She was an operating executive at The Carlyle Group until this year. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. 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. Get this delivered to your inbox, and more info about our products and services. Term. 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. 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 .