American businessperson, an operating executive of The Carlyle Group, and chair of the Walt Disney Company. Disney noted that Parker will chair a newly created succession planning committee, look at internal and external candidates. Susan Arnold . 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. 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. Theyre disappointed but theyre not mad on average., Kropp said he feels for corporate chiefs who are bogged down in the culture wars. The industry leader for online information for tax, accounting and finance professionals. View the profiles of people named Susan Arnold. Hosted by Matthew Belloni and Kim Masters Dec. 10, 2021 Entertainment. noted on a politically optimistic earnings call two days after the election, he supports closing tax . 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. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. Mr. Parker served as NIKEs Chairman and CEO until 2020, when he became Executive Chairman. This material may not be published, broadcast, rewritten, or redistributed. To a Spreadsheet or Other File Type. Got a confidential news tip? Chairman of the board Bob Iger leaves at the end of 2021. 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. Made in L.A. Streaming music, news & culture from KCRW Santa Monica, Live streaming music, news & culture from KCRW Santa Monica. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. 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. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. The term party has since come to be applied to all organized groups seeking political power, whether . 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. That fits with the direction Disney is headed in generally. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. "The Street likes Mr. Iger almost as much . Critics have depicted the legislation as hurtful to LGBTQ inclusiveness and dubbed it the "Don't Say Gay" bill. Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. Do Not Sell or Share My Personal Information. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. Prior to that, she was Vice Chair of P&G Beauty and. Walt Disney has elected a woman to chair its board for the first time in the entertainment giant's 98-year history. 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. Disneys in a big moment of transition. 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. But that progressive record was no shield from criticism. Market data provided byFactset. [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]. It's a movement. These actions provide hope that the concept of an enlightened capitalism exists and has evolved in the subconscious of corporate leaders, who have responded collectively for the common welfare in a time of crisis. 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. Chris Palmeri reports. 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 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. Chairwoman. The move takes . Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. Arnold will begin her new role Dec. 31 . By Prince Akoenyenu November 21, 2022. Arnold thanked Chapek for leading the company through the pandemic. The Walt Disney Company has a big problem. "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. "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. Photo by Marko Aliaksandr. Worries about a new Covid-19 variant threatens the companys fragile theme park recovery. One C.E.O. susan arnold disney political party. Description. And so on. Froman, Robert A. Iger, Maria Elena Lagomasino, Calvin R. McDonald, Mark G. Parker and Derica W. Rice. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. During his years at Disney, Iger saw the acquisitions of Pixar, Marvel, Lucasfilm and Fox. She is known for her involvement in several works by the entertainment giant company. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Arnold served as an operating executive at The . "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 . It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in 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. The companys market capitalization grew nearly fivefold during his tenure from $48 billion to over $230 billion. Disneys in a big moment of transition. Predecessor. 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 . 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 . Susan E. Arnold. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The bill also requires procedures for schools to discuss matters of "mental, emotional or physical health or well-being" with parents. Iger struck a reassuring tone in his first email to staff on . 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. He then joined Disney and became the CEO in 2005. Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. Iger has been gradually removing himself from active . They targeted moderate . (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images). . "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. Disney. But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. Disney has a progressive record on sexuality and gender. Do you know this baby? Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. (Paul Hennessy/SOPA Images/LightRocket via Getty Images / Getty Images), GET FOX BUSINESS ON THE GO BY CLICKING HERE, Nothing in the Florida legislation itself mentions the word "gay." Deadline is a part of Penske Media Corporation. 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. They Were Secretly Conservative Spies. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. Disney urged shareholders to vote against Peltz and named current board member Mark Parker as its chairman. A Division of NBCUniversal. 0. 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). "[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. The Walt Disney Company has a big problem. Sign up for free newsletters and get more CNBC delivered to your inbox. Arnold thanked Chapek for leading the company through the pandemic. 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. "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. "Floridas HB 1557, also known as the Dont Say Gay bill, should never have passed and should never have been signed into law," the Disney statement said. Bob Chapek, the current CEO of the company, came from consumer products and theme parks, rather than creative programming. The move comes as the company faces a proxy fight with an influential activist shareholder. Facebook gives people the power to. Susan E. Arnold was formerly an operating executive of The Carlyle Group, an equity investment firm. All rights reserved. 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. 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. 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. Warner Bros. golden ticket: Will they make new Lord of the Rings films? 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 . As a result, the board will be reduced to 11 members. Susan E. Arnold has been President--Global Business Units of Procter & Gamble since 2007. This isnt just a Disney issue. The Fair Political Practices Commission is looking at whether former Gov. 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. What's the least amount of exercise we can get away with? 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. Contribution Totals. Legal Statement. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. Disneys said its board has elected Mark Parker chairman, effective following the annual meeting of shareholders. Photo by Marko Aliaksandr. 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. FLORIDA REPUBLICANS CONDEMN 'WOKE' DISNEY, URGE MORE BOYCOTTS BY CONSERVATIVES AGAINST THE 'ACTIVIST MACHINE'. 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. Also known as. Iger has a two year contract. 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. [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. Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. 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. But her long-time tenure that edges up to Disneys own parameters suggests the Magic Kingdom could have planned succession better. Sabado Domingo @SabadoD00554481. A backlash among Disney's senior executives grew to the point it reached the company's board. [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. Chairman of the board Bob Iger leaves at the end of 2021. What guidance should Disney Chairman Susan Arnold provide to Bob Chapek? Joseph Prezioso/ZUMA Wire. 4. 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. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . There are almost daily memos, suggested readings, panels, and seminars that [are] all centered around antiracism, one employee told the outlet. And Ive continually gotten the unspoken answer: no, the employee told the outlet. Term. The entrance to Disney World in Orlando, Florida. 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. 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. 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. 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. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Dec. 1, 2021 Updated 2:18 PM PT. The $260 billion media giant named Susan Arnold on Wednesday as its next chairperson to succeed Bob Iger. Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. Investors are allowed delcare opposition board candidates to push change, leading to a whats called a proxy fight. Among measures to be voted on, Trianon also wants Disney to amend its bylayws. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. 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? 38/$4,515. The $260 billion media giant named Susan Arnold on Wednesday as . Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. 1 He will be replaced by Susan Arnoldwho has been . 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.. Disney has a new board chair, and she's a gay woman. 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. 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.". [11][12] She was elected chair on December 31, 2021. "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. 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. 2023 Deadline Hollywood, LLC. Iger also has some potential points of agreement with the new presidentas the Disney C.E.O. Susan E. Arnold, a 14-year member of the Walt Disney Co.'s board of directors, will take the helm as board chairman, effective 31, the company announced Wednesday. Where he heads next is still an open question. All Rights Reserved. On Monday, Chapek sent a memo to Disney employees stating his case for quiet diplomacy. 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 . Includes location, related records, political party, and more. Click to reveal Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. The . His departure marks the end of an era. We've received your submission. View the voter registration of Susan Arnold (age 76) from Tamarac, Florida. It's a woke world after all. -. Walt Disney Co. said Susan Arnold will take the reins from Bob Iger as chairman of the board at the entertainment giant. See here for a complete list of exchanges and delays. This website is using a security service to protect itself from online attacks. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. This story has been shared 123,414 times. Arnold at least can concentrate at one task: guiding Bob Chapek as Disneys newish CEO. 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. [2], She is an operating executive of The Carlyle Group, since September 2013. 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. Putting names to archive photos, The children left behind in Cuba's mass exodus, In photos: India's disappearing single-screen cinemas. 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 . The Florida Legislature passed the bill on Tuesday despite Disneys behind-the-scenes work. He'll be succeeded by Susan Arnold. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. 2018 Transaction Count/Amount. Mutual Fund and ETF data provided byRefinitiv Lipper. When is Eurovision and how do you get tickets? All Rights Reserved. Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. "Mark Parker is an incredibly well-respected leader who over seven years. Parker's appointment is 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, who has been a Disney board member for 14 years, will succeed Bob . On Nov. 29, Twitter announced that Taylor would become its chairperson. Its been a tumultuous period for the company culminating in an abrupt CEO change in November as Bob Iger returned, taking the reins from Bob Chapek. Philosopher. Arnold has been on Disney's board for 14 years and has served as the independent lead director since 2018. Opinions expressed are those of the author. In 2004 and 2005, she was listed on the Wall Street Journal's 50 Women to Watch. "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. 93. NEW YORK, Dec 2 (Reuters Breakingviews) - Walt Disney (DIS.N) has finally found its new board leader. political party, a group of persons organized to acquire and exercise political power. BREAKING: Mark Parker Named New Disney Chairman, Succeeding Susan Arnold. Will the Marvel invincibility last? 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. 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. 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 . 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 . Advertisement. We want to hear from you! Changes at the top are disruptive and Disney is undergoing its own transformation. 2023 CNBC LLC. 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 . Arnold is leaving her position as operating executive at the Carlyle Group (CG.O) as she steps up to lead the Disney board. Hell be succeeded by Susan Arnold. 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. 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. She was an operating executive at The Carlyle Group until this year. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
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