Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger later this year. She was an executive at global investment firm Carlyle.
Iger, who stepped down as Disney’s chief executive in 2020 after 15 years in the job, will leave the company later this month.
“As I take on this new role as Chairman of the Board, I look forward to continuing to serve the long-term interests of Disney shareholders and working closely with CEO Bob Chapek as he builds on the company’s centuries-old legacy of creative excellence and innovation.” , Arnold said in a statement.
She has also held senior positions at some of America’s largest companies.
For the past eight years, Ms. Arnold has been an executive at the Carlyle Group, having previously held positions at consumer goods giant Procter and Gamble and fast food chain McDonald’s.
“Susan is an incredibly esteemed executive whose wealth of experience, unwavering integrity and expert judgment have been invaluable to the company since she joined the Board in 2007,” said Iger.
His appointment comes at a time when large companies are moving away from management structures in which the functions of chairman and chief executive are performed by the same person, after pressure from corporate governance experts, investors and, in some cases, regulators to separate the two main positions.
Iger’s departure marks the end of an era for Disney, which has held a senior role at the company since 1996.
In his time as chief executive, Disney made several major acquisitions, including those of Pixar, Marvel, Lucasfilm and 21st Century Fox. In 2016, the company opened its first theme park and resort in mainland China.
Several other Disney executives have announced plans to leave later this year, including studio head Alan Horn, Disney Branded Television President and Creative Director Gary Marsh and Disney General Counsel Alan Braverman.
Translated text from the portal BBC News.
The post Disney elects female president for the first time appeared first on ADNEWS.
