Walt Disney Co. announced Wednesday that Susan Arnold has been elected as chairman effective Dec. 31, replacing Robert Iger, current chairman and Disney’s former chief executive.
Arnold has been on the Burbank company’s board for 14 years and has served as its independent lead director since 2018. She was formerly an operating executive of Carlyle Group, a global investment firm she served with from 2013 to 2021. She brings to the position experience in brand management, marketing, international consumer markets and risk management.
“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,” Iger said in a statement. “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.”
Iger has served as chairman since 2012 and as Disney’s executive chairman since 2020, managing the company’s creative endeavors.
“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.
Shares of Disney (DIS) closed Wednesday down $2.75, or 1.9 percent on the New York Stock Exchange.
