Susan Arnold will succeed Bob Iger as Chairman of the Board of The Walt Disney Company after Iger departs at the end of the month, Disney announced today.
Iger stepped down as Disney's Chief Executive Officer in February 2020 and was replaced by Bob Chapek, the former head of Disney's theme parks division, though Iger remained as Chairman of the Board through his planned departure from the company at the end of this year.
Although Iger held both the CEO and Chairman roles for eight years, Disney does not always combine the two positions. For the first seven years that Iger served as CEO, Disney's board was chaired by U.S. Sen. George Mitchell and then John Pepper Jr. Like Pepper, Arnold comes to Disney from Procter & Gamble, where she was Vice Chairman and President. Arnold has sat on Disney's board for 14 years and has been serving as its independent Lead Director since 2018.
"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. "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. It has been a distinct honor to work with Susan and our many other talented directors, and I am incredibly grateful for the support and wise counsel they have provided during my tenure."
In addition to her roles at Disney and P&G, Arnold recently worked as operating executive of The Carlyle Group from 2013 to 2021. She also was a director of McDonald's Corp. from 2008 to 2016.
Arnold will be the first woman to head Disney's board. She will be Disney's 10th Chairman, a position first held by Walt Disney and then by his brother Roy.
* * *
We wanted you to read this article before we make our newsletter pitch, unlike so many other websites. If you appreciate that - and our approach to covering theme park, travel, and entertainment news - please sign up for our free, three-times-a-week email newsletter. Thank you.
This article has been archived and is no longer accepting comments.