BREAKING: Susan Arnold to Helm Board After Iger Departure
Longtime Walt Disney Company board member Susan Arnold will replace current Chairman Bob Iger when he steps down at the end of the month. The Board of Directors made the announcement earlier today. Arnold will be the first female to lead the Walt Disney Company’s board since its beginning in 1945.
Arnold, a staple of the Walt Disney Company board since 2007, held an operating executive role at private equity firm, The Carlyle Group, until recently. Prior to that role, she held critical roles at Procter & Gamble, Nature’s Bounty (now NBTY) and McDonald’s. Since 2018, she also served as an independent Lead Director on the Disney board of directors. Arnold also served previously on the executive committee of Catalyst, which focuses on supporting women in business.
“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 today in a statement cited by CNBC.
Iger’s legacy at Disney is certainly profound. In his role as Chief Executive Officer, Iger acquired key properties including Pixar, Marvel Studios, Lucasfilm, and FOX as well as launching Disney+ and the opening Shanghai Disney Resort. Arnold’s first official day as chair will be December 31st.
“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 continued in the statement as reported by Hollywood Reporter.
Iger stepped down as CEO of the Walt Disney Company on February 25, 2020, just before the coronavirus pandemic swept the world. He stayed on as chairman throughout this time though, as Bob Chapek took over as CEO of the company.