"Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that.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 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. edit. That angers both sides, he said. But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Disney has a new board chair, and she's a gay woman. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Photo by Marko Aliaksandr. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. 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. 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. 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 . He said the worst possible move for a company is to take a position on a social issue but not follow through on it. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. 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.. It's a woke world after all. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. Click to reveal 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. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). - Walt Disney said on Dec. 1 the board elected Susan Arnold who will replace Bob Iger as chairperson of Disneys board. Arnold, who has sat on the Mouse House's board for 14 years and who has . 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. 10. Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. Warner Bros. golden ticket: Will they make new Lord of the Rings films? At the time, Iger was observing Disney's performance as a shareholder, but he had no intention of returning. 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 . Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. Also known as. 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. Susan Arnold Biography. noted on a politically optimistic earnings call two days after the election, he supports closing tax . "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. 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. 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Among measures to be voted on, Trianon also wants Disney to amend its bylayws. And so on. 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 . Predecessor. 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. Cloudflare Ray ID: 7a2f8c127fb98108 Mutual Fund and ETF data provided byRefinitiv Lipper. 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. She is based in New York. The article describes an environment in which some Disney employees allegedly found themselves "the target of scrutiny and likely termination" if they spoke out against Disney's political stances. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. Data is a real-time snapshot *Data is delayed at least 15 minutes. In some cases the restive employees are conservatives, not liberals. 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. They are also able to put foward shareholder proposals. She was formerly an executive at global investment firm Carlyle. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. Will the Marvel invincibility last? 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. The estimated Net Worth of Susan E Arnold is at least $5.99 Million dollars as of 2 June 2021. View the profiles of people named Susan Arnold. 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. When Bob Iger officially leaves Disney at the end of the year, hell be succeeded by Susan Arnold, the first woman and first openly gay person to lead the Disney board of directors. Signup for Breaking News Alerts & Newsletters. The best of what to see, hear, eat, do, and more. This material may not be published, broadcast, rewritten, or redistributed. 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. 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. 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. But that progressive record was no shield from criticism. 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 memo failed to tamp down employees outrage over the legislation, which is supported by Ron DeSantis, the Republican governor and a potential 2024 presidential candidate. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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 . Iger has a two year contract. Joseph Prezioso/ZUMA Wire. Ant Man gets poor reviews. Wall Street applauded Iger's return. ", Gov. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. He now holds two big jobs that will split his attention. In 2004 she became Vice Chairman of Procter & Gamble and President of the company in 2007. She was an operating executive at The Carlyle Group until this year. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. But Disneys appointment could have been more thoughtful. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Consumers are turning to vote with their dollar.. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. In 2016, the firm opened its first theme park and resort in mainland China. Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. Christopher Palmeri. 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 . The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. Disney shares were relatively flat in after-hours trading. 38/$4,515. 2018 Transaction Count/Amount. Do you know this baby? Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. Physics is the law, everything else is a recommendation.. Performance & security by Cloudflare. She served for several years on the executive committee of Catalyst, a nonprofit organization working toward the advancement of women in business. 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.". On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. [4][5] In June 2022, she was recognized by the International Hospitality Institute on the Global 100 in Hospitality as one of the 100 Most Powerful People in Global Hospitality. The . Arnold has served as the panel . The entrance to Disney World in Orlando, Florida. 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 . "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. Chairman of the board Bob Iger leaves at the end of 2021. Yes, even on a piece of state legislation that did not directly involve Disney. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. There are almost daily memos, suggested readings, panels, and seminars that [are] all centered around antiracism, one employee told the outlet. Disney's in a big moment of transition. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Arnold has been a member of Disneys board since 2007. All Rights Reserved. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. Bob Iger (2012-2021) Susan E. Arnold (born March 8, 1954) is an American business executive; she is the chairwoman of The Walt Disney Company . Parker's appointment is It's a movement. Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. 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.". Subscribe to Deadline Breaking News Alerts and keep your inbox happy. She'll succeed former CEO Bob Iger, who has served as board chairman since 2012. 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. 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. 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 entrance to Disney World in Orlando, Florida. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. 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 . American businessperson, an operating executive of The Carlyle Group, and chair of the Walt Disney Company. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. 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. Disneys in a big moment of transition. 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. 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. 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. 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. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). The company made the announcement today. Instead, they are often weaponized by one side or the other to further divide and inflame. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. Label. They Were Secretly Conservative Spies. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. As a result, the board will be reduced to 11 members. Hell be succeeded by Susan Arnold. Iger is set to step away from the role by the end of this year. . Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. The more a company does, the more it is expected to do. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment.
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