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. 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. By Ryan Faughnder Staff Writer. "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. Disney. 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 . Ron DeSantis' new Parental Rights in Education law because the company is dedicated to standing up for the rights and safety of the LGBTQ+ community. #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 . 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. His departure marks the end of an era. Title. 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. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Opinions expressed are those of the author. 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. Description. Chairman of the board Bob Iger leaves at the end of 2021. Susan Arnold is an American business executive and chairwoman of Walt Disney. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. But Chapek had resisted making a public statement despite entreaties from employee groups at Disney. We've received your submission. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. While Chapek is a long-time Disney executive, hes new to the corner office and his leadership will be tested by challenges. Your IP: Chairman of the board Bob Iger leaves at the end of 2021. In some cases the restive employees are conservatives, not liberals. [13] On January 11, 2023, Disney announced that Arnold would no longer serve as the board's chair after the next annual shareholder meeting and would be replaced by former Nike CEO Mark Parker.[14]. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. 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. "Accordingly, management has placed the Companys assets, including its brand, reputation, and good will, at risk.". This material may not be published, broadcast, rewritten, or redistributed. 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. Disney has a new board chair, and she's a gay woman. Staffers are told to reject equality for equity and must reflect on Americas racist infrastructure and think carefully about whether or not [their] wealth is derived from racism, according to the documents. With the departure of Arnold, Disney's board will shrink to 11 . She worked almost 30 years at Procter & Gamble and also spent time in the world of private equity. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. Susan ArnoldPolitical Campaign Contributions2004 Election Cycle. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. . but a. 67.227.155.73 from 1999 to present. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. Iger has a two year contract. The retailer Hobby Lobby is avowedly conservative, while the grocery chain Trader Joes is popular with liberals. Contribution Totals. She was formerly an executive at global investment firm Carlyle. Where he heads next is still an open question. 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 . The entrance to Disney World in Orlando, Florida. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. political party, a group of persons organized to acquire and exercise political power. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. Have feedback? In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. See here for a complete list of exchanges and delays. Facebook gives people the power to. 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.. When is Eurovision and how do you get tickets? Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. Ant Man gets poor reviews. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. And so on. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. 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. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. Chapek also engaged in a public battle with "Black Widow" star Scarlett Johansson, who sued the company over "breach of contract" after it decided to release the Marvel film on Disney+ the same day it hit theaters.Johansson and Disney eventually settled.. More recently, Chapek found himself in the political crossfire of Florida Governor Ron DeSantis, who revoked the company's special tax . "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. 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 disney political party. Consumers are turning to vote with their dollar.. 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. Arnold thanked Chapek for leading the company through the pandemic. He said the worst possible move for a company is to take a position on a social issue but not follow through on it. 10. The entrance to Disney World in Orlando, Florida. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. Sabado Domingo @SabadoD00554481. 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. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. 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 . Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. 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.. Simply put, they can be counterproductive and undermine more effective ways to achieve change.. Arnold has been a member of Disneys board since 2007. 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. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Iger led Disney for 15 years before stepping down in 2020. . 2023 FOX News Network, LLC. 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. 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. 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. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. Sign up for free newsletters and get more CNBC delivered to your inbox. Board Responds to Trian Partners Nomination by Recommending Shareholders vote for all of the Companys Nominees. That fits with the direction Disney is headed in generally. The tensions seem to be intensifying. She was an operating executive at The Carlyle Group until this year. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . 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.". One C.E.O. 2020 Transaction Count/Amount. "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. This is a list of The Walt Disney Company's Executive Management Team, both present and historical. We want to hear from you! 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 . Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. 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 . Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. That stands in contrast to Twitter, which on Monday elected read more Bret Taylor as its chairperson. 2023 Deadline Hollywood, LLC. He then joined Disney and became the CEO in 2005. Our Standards: The Thomson Reuters Trust Principles. Today, Disneys directors bring experience across a relevant range of disciplines, including brand, marketing and retail, direct-to-consumer expertise, and technology and innovation. The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. 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. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. She is based in New York. Disney's in a big moment of transition. American businessperson, an operating executive of The Carlyle Group, and chair of the Walt Disney Company. 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. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. 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 . She was an operating . Susan Arnold - Credit: dailyO. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. Susan E. Arnold. On Nov. 29, Twitter announced that Taylor would become its chairperson. 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. The action you just performed triggered the security solution. Join Facebook to connect with Susan Arnold and others you may know. "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. 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. 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%. 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. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 2023 KCRW All Rights Reserved. Send a note to coy-newsletter@nytimes.com. They are also able to put foward shareholder proposals. 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.. 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. Chairman of the Board. 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. It's a movement. 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. As a subscriber, you have 10 gift articles to give each month. 2018 Transaction Count/Amount. The move comes as the company faces a proxy fight with an influential activist shareholder. Walt Disney Co. named former Carlyle Group executive Susan Arnold as its chairman, replacing Bob Iger, who is nearing his previously announced departure from. Do Not Sell or Share My Personal Information. Chris Palmeri reports. 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 . 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 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. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. In 2016, the firm opened its first theme park and resort in mainland China. 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.
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