Thursday, January 27, 2022

Disney Board Member Susan Arnold To Succeed Bob Iger As Chairman Upon His Exit From Company

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Disney is changing Bob Iger, who will quickly wrap up his decades-long tenure on the firm, with Susan Arnold as chairman of the board. The transfer takes impact when Iger leaves formally exits on December 31.

Arnold has been a member of the board for 14 years. Iger, who handed the CEO baton to Bob Chapek in February 2020 and introduced his plan to depart the corporate, had been board chair since 2012.

In addition to her position on the Disney board, Arnold has had profession stints as an exec at funding agency The Carlyle Group in addition to at Procter & Gamble. She has been a board member at McDonald’s Corp. and NBTY.

“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,” Iger stated in a press launch. “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.”

Disney developed considerably beneath Iger and continues to through the Chapek period, and the board facet of the corporate’s progress will likely be attention-grabbing to observe. While Iger redirected the corporate’s assets and strategic focus towards direct-to-consumer streaming, Chapek has made quite a few dramatic strikes, many in response to Covid. He created a centralized distribution group, retooled theme parks and launched new movie launch home windows, together with some main titles debuting concurrently in theaters and on Disney+. Iger recounted the streaming pivot in his 2019 memoir, The Ride of a Lifetime, invoking a number of cases of getting to influence the board about sure strikes, together with the $71 billion acquisition of most of twenty first Century Fox.

Arnold is by far the longest-serving Disney board member. Chapek grew to become a director when he obtained the CEO job final 12 months. The different 9 administrators arrived between 2016 and 2021.

“On behalf of the board, I would like to express my deepest gratitude to Bob Iger for his extraordinary leadership over the past decade-and-a-half,” Arnold stated. “Bob has led Disney to amazing heights both creatively and financially, with his clear strategic vision for delivering high-quality branded storytelling, embracing cutting-edge technology, and expanding internationally, and he’s left an indelible mark on The Walt Disney company that will be felt for generations to come. 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.”

Iger has been government chairman at Disney for almost two years, with an official deal with inventive endeavors. He was CEO from 2005 to 2020 after succeeding Michael Eisner. Prior to that, he held a number of prime roles at each Disney and ABC.

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