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.
Arnold has served as the panel’s independent lead director since 2018 and will succeed Robert A. Iger when he departs Disney at the end of the year.
“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 said in a statement. “I am confident the company is well-positioned for continued success under her guidance and leadership.”
Arnold brings to her role extensive public-company board experience and in-depth knowledge of brand management and marketing, environmental sustainability, product and business development, international consumer markets, finance and executive and risk management.
She was formerly an operating executive of the equity investment firm The Carlyle Group, where she served from 2013 to 2021. Prior to that, she served as president of the Global Business Units division of Procter & Gamble from 2007 to 2009.
She has also held executive roles with McDonald’s Corp. and NBTY Inc.
“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,” Arnold said.
Arnold said Iger’s impact on Disney’s operations has been profound.
“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,” she said, “and he’s left an indelible mark on The Walt Disney Company that will be felt for generations to come.”
Iger has served as board chairman since 2012, and as Disney’s executive chairman since 2020, directing the company’s creative endeavors. From 2005-2020, he led Disney as chief executive officer.
During his tenure, he built Disney into one of the world’s largest and most admired media and entertainment companies. As CEO, he expanded on Disney’s rich history of storytelling with the acquisitions of Pixar (2006), Marvel (2009), Lucasfilm (2012) and 21st Century Fox (2019), as well as the landmark 2016 opening of Disney’s first theme park and resort in Mainland China, Shanghai Disney Resort.
He also spearheaded the release of a number of record-setting films, including Marvel’s “Avengers: Endgame,” Disney’s “Frozen” and “Frozen 2,” and the groundbreaking movie Marvel’s “Black Panther.”
Embracing new technology, Iger has made Disney an industry leader through its creative content offerings across multiple platforms, most recently leveraging direct-to-consumer technology with the launch of the Disney+ streaming service in 2019 and ESPN+ in 2018.
Source: Orange County Register
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