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.. 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. She is based in New York. but a. 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. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. "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. But Disneys appointment could have been more thoughtful. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. While Iger came from a creative background, thats not the case with Arnold. We want to hear from you. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. Trust in Congress is decreasing. Under him, the behemoth acquired Pixar . 2021-present. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. What science tells us about the afterlife. Facebook gives people the power to. Mutual Fund and ETF data provided byRefinitiv Lipper. Arnold becomes the first woman to chair Disney's board in the entertainment giant's 98-year history. 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.". His attempt to keep out of the spotlight had failed. Download all contribution records for this person. 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%. Disney has a progressive record on sexuality and gender. 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. 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. They targeted moderate . Simply put, they can be counterproductive and undermine more effective ways to achieve change.. 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.. "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. noted on a politically optimistic earnings call two days after the election, he supports closing tax . His departure marks the end of an era. Dec. 1, 2021 Updated 2:18 PM PT. Weve already seen that happen a bit. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett 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. 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. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Anyone can read what you share. 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. Language. If anything it made Disney more vulnerable because employees and other stakeholders expected the company to live up to its own expressed values. Susan Arnold Young, Education, Political Party, Movies. Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. "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. Performance & security by Cloudflare. You can email the site owner to let them know you were blocked. Rhiza Dizon, 'Sears or Playboy May Get Gay CEO'. AFL's letter comes after Disney announced last week that it will work to repeal Florida Gov. 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. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. She was an operating . She'll succeed Bob Iger, who stepped down as Disney CEO early last year. Signup for Breaking News Alerts & Newsletters. Send us a tip using our annonymous form. 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. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. 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. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. 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 . This story has been shared 123,414 times. 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. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Iger struck a reassuring tone in his first email to staff on . To a Spreadsheet or Other File Type. The Walt Disney Company has a big problem. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. 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. Susan Arnold is taking over as Disney's chairman of the board, the company announced Wednesday. 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. 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. 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.. FLORIDA REPUBLICANS CONDEMN 'WOKE' DISNEY, URGE MORE BOYCOTTS BY CONSERVATIVES AGAINST THE 'ACTIVIST MACHINE'. 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 . 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. Arnold, who has sat on the Mouse House's board for 14 years and who has . Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. 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 Walt Disney Company. . 2023 BBC. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Now theres the possibility that he could own a sports team or take on another big public role. Chairman of the board Bob Iger leaves at the end of 2021. 38/$4,515. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. "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. The Walt Disney Company announced Wednesday that it has elected Susan Arnold to be its next chairman of the board, making her the first woman to helm the corporation in its 98-year history. Walt Disney Co 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. Thanks for contacting us. Arnold has been a member of Disneys board since 2007. One C.E.O. The Board is nominating for re-election at the Companys Annual Meeting incumbent directors Mary T. Barra, Safra A. Catz, Amy L. Chang, Francis A. deSouza, Carolyn Everson, Michael B.G. The average tenure of the current Board is four years, with three directors serving fewer than two years, and in addition the Board is led by an independent chairman. The Fair Political Practices Commission is looking at whether former Gov. See here for a complete list of exchanges and delays. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. Powered and implemented byFactSet Digital Solutions. Arnold thanked Chapek for leading the company through the pandemic. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The tensions seem to be intensifying. 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. Disney. Deadline is a part of Penske Media Corporation. 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 . It's a woke world after all. 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. 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. Click to reveal 3 min read. "[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. 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. As Chapek noted in his memo, Disney has earned a 100 percent rating from the Human Rights Campaign for the past 16 years. Currently, Susan E. Arnold is Chairman at The Walt Disney Co. Betty Arnold (Democratic Party) is a member of the Kansas State Board of Education, representing District 8.Arnold assumed office on January 12, 2021. Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 1 He will be replaced by Susan Arnoldwho has been . But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. Got a confidential news tip? Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. "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. 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. Susan Arnold will succeed Bob Iger as the next Disney chairman. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. 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 . 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. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. 42/$4,105. 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 . Chairman of the board Bob Iger leaves at the end of 2021. Susan Arnold . Susan E. Arnold graduated from the University of Pennsylvania with a Bachelor of Arts degree, and from the University of Pittsburgh with a Master of Business Administration degree. When Bob Iger officially leaves Disney at the end of . Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. According to Forbes, Susan Arnold got her start as a brand assistant on the Dawn/Ivory Snow Group. Iger has been gradually removing himself from active . Theyre disappointed but theyre not mad on average., Kropp said he feels for corporate chiefs who are bogged down in the culture wars. 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. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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. Prior to that, she was Vice Chair of P&G Beauty and. Have feedback? [11][12] She was elected chair on December 31, 2021. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. By Ryan Faughnder Staff Writer. 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. 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. Sabado Domingo @SabadoD00554481. Arnold, who was a former executive at the Carlyle Group, joined the Disney board in 2007. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. 93. The date of the Annual Meeting has not yet been announced. She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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 . Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Ms. Arnold has been a Director of the Company since 2007 and was elected as Chairman of the Board as of December 31, 2021. 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). That fits with the direction Disney is headed in generally. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". Susan Arnold will succeed Bob Iger as the next Disney chairman. The company is completely ideologically one-sided and actively discourages Christian and or conservative workers from speaking their mind, the worker said. Susan Arnold is an American business executive and chairwoman of Walt Disney. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. Susan Arnold (Q535362) Susan Arnold. 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. 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 . It therefore prefers to minimize the number of times it takes stands on hot-button social issues. edit. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Christopher Palmeri. 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. The action you just performed triggered the security solution. Susan E . 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. Includes location, related records, political party, and more. 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. Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. susan arnold disney political party. Susan Arnold Biography. "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. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. The more a company does, the more it is expected to do. 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. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. When is Eurovision and how do you get tickets? Disney has a new board chair, and she's a gay woman. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. 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. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. The . (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). 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. 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. 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. 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.