Walt Disney Elects Susan Arnold As First Woman Chairperson In Its 98-Year History

Susan Arnold has been a Disney board member for 14 years, and had served as an executive at global investment firm Carlyle for the last eight years.

New Delhi: Susan Arnold will succeed Robert A Iger as the chairperson of Walt Disney at the end of the year, becoming the first woman to head the firm since its inception 98 years ago, a BBC report said.

Arnold has been a Disney board member for 14 years, and had served as an executive at global investment firm Carlyle for the last eight years. She also held senior positions at some of America's biggest companies, including consumer goods giant Procter and Gamble and fast food chain McDonald's.

Iger, who served as the CEO of Disney since 2005 and stepped down from the role in 2020, will leave the firm by the end of December, according to media reports. 

"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 in a statement.

Susan An Incredibly Esteemed Executive, Says Former Disney CEO Iger

"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," former Disney CEO Iger said.

Large companies have been following a trend of moving away from management structures where the same person holds the dula role of chief executive and chairperson, reports said. Corporate governance experts, investors, and sometimes regulators often pressurise large companies to separate the two key positions. 

Iger's Exit From Disney Marks The End Of An Era

In 1996, Iger had joined the Disney senior management team as chairman of the Disney-owned ABC Group. He was given the additional responsibility of president of Walt Disney International in 1999.

During Iger's tenure as Disney's CEO, the company made a number of major acquisitions, including Pixar, Marvel, Lucasfilm and 21st Century Fox. 

Alan Horn, Head of Disney Studios; Gary Marsh, President and Chief Creative Officer of Disney Branded Television; and Alan Braverman, company general counsel, are other Disney executives who have announced plans to exit the company by the end of the year, reports said.