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. 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, Disney said. 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. It's a woke world after all. One C.E.O. Instead, they are often weaponized by one side or the other to further divide and inflame. The best of what to see, hear, eat, do, and more. This material may not be published, broadcast, rewritten, or redistributed. What's the least amount of exercise we can get away with? Read about our approach to external linking. 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.". But it keeps getting dragged into politics, often by employees who tend to be liberal and want the company to reflect their values. 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. All Rights Reserved. The entrance to Disney World in Orlando, Florida. The industry leader for online information for tax, accounting and finance professionals. But that progressive record was no shield from criticism. Get the latest from KCRW in your inbox 3x a week. Arnold thanked Chapek for leading the company through the pandemic. "We believe there is little doubt that investors will applaud this move," wrote Citi analyst Jason Bazinet. What science tells us about the afterlife. Staffers should not rely on your black colleagues to educate you, which is emotionally taxing, the docs reportedly instruct. And Ive continually gotten the unspoken answer: no, the employee told the outlet. 0. Cloudflare Ray ID: 7a2f8c127fb98108 "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. 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. 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. The Fair Political Practices Commission is looking at whether former Gov. Marc Gunther, 'Queer Inc.: How Corporate America fell in love with gays and lesbians. Picture taken July 24, 2021. As a subscriber, you have 10 gift articles to give each month. (Unsplash/Brian McGowan) Early in 2022, Bob Chapek, CEO of The Walt Disney Companyone of Florida's largest employers with roughly 80,000 employeesand taxpayers, had reason to be satisfied with the company's performance, having just . Susan Arnold (age 76) is listed at 7860 Exeter Blvd E Apt 202 Tamarac, Fl 33321-8797 and has no political party affiliation. Parker's appointment is Wall Street applauded Iger's return. Disney has a progressive record on sexuality and gender. Susan Arnold - Credit: dailyO. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. 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%. She retired from Procter & Gamble on September 1, 2009. Disney shares were relatively flat in after-hours trading. 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. And so on. Powered and implemented byFactSet Digital Solutions. Thanks for contacting us. 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. View the voter registration of Susan Arnold (age 76) from Tamarac, Florida. Susan E. Arnold. As we have seen time and again, he wrote, corporate statements do very little to change outcomes or minds. The C.E.O.s who say something but then follow it up with a real resource commitment and explain why theyre doing it employees that agree are engaged and excited, Kropp said. 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. susan e arnold political partyvictoria centre car park consettvictoria centre car park consett ", HERITAGE ACTION CALLS OUT DISNEY: 'IT REALLY IS A WOKE WORLD AFTER ALL'. Arnold thanked Chapek for leading the company through the pandemic. 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 . When Bob Iger officially leaves Disney at the end of . "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," Mr Iger said. I talked with two experts about how Chapek and other chief executives should act in this challenging new environment. She is known for her involvement in several works by the entertainment giant company. Shes a 14-year board member, and her taking over for Iger is seen as a move of stability. 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. 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. ', Last edited on 16 February 2023, at 11:27, "Susan E Arnold, Walt Disney Co: Profile and Biography - Bloomberg Markets", "Susan Arnold Named Chairman of the Board of The Walt Disney Company, Effective December 31", "The Walt Disney Company - Susan Arnold Biography", "Susan Arnold, The Most Powerful Women - Forbes.com", "The Walt Disney Company - News from the Disney Board - May 01, 2007", "Dr Jeffrey Obomeghie and Dupe Olusola among the 100 most powerful people in global hospitality", "Disney names Susan Arnold as board chair, replacing Bob Iger", "Disney appoints woman as chair for first time in 98-year history", "Susan Arnold: After 98 years, Walt Disney gets first woman chair", "Disney Appoints Mark Parker As Chairman of the Board, Replacing Susan Arnold", https://en.wikipedia.org/w/index.php?title=Susan_Arnold&oldid=1139689950, This page was last edited on 16 February 2023, at 11:27. The author discusses which mechanisms have proven particularly Arnold, Elden Elwood (1900-1978) also known as Elden E. Arnold of Britton, Marshall County, S.Dak. Prior to that, she was President Global Business Units of Procter & Gamble from 2007 to 2009. Disneys chief executive, Bob Chapek, got a harsh introduction to the new reality of politicized business this week. Weve already seen that happen a bit. His attempt to keep out of the spotlight had failed. Read about our approach to external linking. Chris Palmeri reports. 10. On Twitter one person compared the Florida bill to the Nuremberg race laws enacted in Nazi Germany. Sign up for free newsletters and get more CNBC delivered to your inbox. Arnold is a 14-year member of the Disney . And it fired Mandalorian actress Gina Carano in February after she made what were considered right-wing comments on social media. Igers transition from boss and chairperson has been in the works at least since February 2020, when Chapek replaced Iger as chief executive. She was an operating executive at The Carlyle Group until this year. 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. 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.". Jeannetta Arnette. Disney employees, as well as outsiders, have called the bill anti-L.G.B.T.Q.+ legislation. Some of the language was heated. DeSantis signed the bill, which bars instruction on sexual orientation or gender identity in kindergarten through third grade, into law last week. Neeru Paharia, an associate professor at Georgetown Universitys McDonough School of Business, said hanging back doesnt work. 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. Iger led Disney for 15 years before stepping down in 2020. . Label. Disney has named board member Mark Parker its new chairman, succeeding Susan Arnold. Its one thats bedeviling chief executives of prominent companies such as Google (Alphabet) and Nike. The Walt Disney Company remains open to constructive engagement and ideas that help drive shareholder value. Operatives infiltrated progressive groups across the West to try to manipulate politics and reshape the national electoral map. The $260 billion media giant named Susan Arnold on Wednesday as . James Smith. Arnold, who was a former executive at the Carlyle Group, joined the Disney board in 2007. Those that disagree might be mad at you, but if you explain the decision-making process, their engagement levels dont fall. . Disneys in a big moment of transition. Gov. Arnold's election will be effective December 31, 2021, when Bob Iger formally steps down as chairman - a position he has held since 2012. Arnold, 67, has been the lead independent director since 2018 and has served on Disney's board since 2007. The estimated Net Worth of Susan E Arnold is at least $5.99 Million dollars as of 2 June 2021. It wants to be loved by everybody: Massachusetts liberals and Mississippi conservatives, Muslims in Saudi Arabia and atheists in China. Chairman of the board Bob Iger leaves at the end of 2021. 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. Disney said it remains open to constructive engagement and ideas that help drive shareholder value, including with Trian. 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 . There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The move takes . Companies that take a stand quick and are first movers in the space are perceived as being more authentic, she said. Ron DeSantis speaks at a press conference at the Eau Gallie High School aviation hangar in Melbourne, Florida, on March 22. She has stepped back from her private equity job, which is a step better than Twitter (TWTR.N). Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob . Putting names to archive photos, The children left behind in Cuba's mass exodus, In photos: India's disappearing single-screen cinemas. That could mean the possibility of another change of the guard on Disneys board when she hits her term limit. We want to hear from you. 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Several other Disney executives have announced plans to leave by the end of this year, including studios head Alan Horn, president and chief creative officer of Disney Branded Television Gary Marsh and company general counsel Alan Braverman. All rights reserved. Iger has served as chairman of the board since 2012 and is set to leave the position effective Dec. 31. It therefore prefers to minimize the number of times it takes stands on hot-button social issues. Ant Man gets poor reviews. In 2016, the firm opened its first theme park and resort in mainland China. "Mark Parker is an incredibly well-respected leader who over seven years. 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 . On Nov. 29, Twitter announced that Taylor would become its chairperson. Arnold has served as the panel . 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. If anything it made Disney more vulnerable because employees and other stakeholders expected the company to live up to its own expressed values. Term. 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. 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.. susan arnold disney political party. "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 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. While Iger came from a creative background, thats not the case with Arnold. Susan Arnold was formerly an operating executive of equity investment firm The Carlyle Group. 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. I can imagine one possible resolution: Companies openly embrace one side or another in the culture wars. 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. -. Arnold is bumping up against Disneys own corporate governance guidelines that state the board wont nominate for re-election any non-management director after completing 15 years of service. 2023 BBC. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The Walt Disney Company has appointed its first female chairperson to its board of directors.. Disney confirmed that as of Dec. 31, Susan Arnold will take over for former CEO Bob Iger as chairman of the board. "The decision of The Walt Disney Corporation to promote the introduction of age-inappropriate sexual material in kindergarten classrooms, including radical gender ideology, and to fight the democratically-elected government of Florida in order to achieve this end, jeopardizes the financial future of the company and its shareholders in service of an extreme political agenda," AFL President Miller told FOX Business. In addition, she makes $393,220 as Lead Independent Director at Walt Disney Co. Susan E . Facebook gives people the power to. Iger has been key in making Disney into a social media powerhouse through acquisitions and content plays. Susan Arnold, Disney's chair, contacted Iger about the souring testimonials and sought his input. This story has been shared 123,414 times. By Ryan Faughnder Staff Writer. 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 . The action you just performed triggered the security solution. Physics is the law, everything else is a recommendation.. FOX Business' Marisa Schultz, Andrew Murray and Adam Shaw contributed to this report. The tensions seem to be intensifying. "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.