Disney taps Susan Arnold as new Chairman of board

Dec 1, Reuters - Walt Disney Co has tapped Susan Arnold as its chairman of the board, the first woman to be named to the role in the entertainment company's 98 year-long history.

Arnold, who has been a board member for 14 years, will replace Bob Iger on December 31.

Iger, who stepped down as Disney's chief executive in 2020 after 15 years in the role, will leave the company by the end of the month.

Arnold's appointment comes at a time when big corporations are moving away from an organizational structure in which CEO and Chairperson positions are held by a single person, following a push by corporate-governance experts, shareholders and regulators to untangle the two roles.

Arnold was an executive at The Carlyle Group, an equity investment firm. She has also served in executive positions at Procter and Gamble and McDonald's Corp. Several Disney executives have announced plans to leave, including Studios head Alan Horn, president and chief creative officer of Disney Branded Television Gary Marsh and company general counsel Alan Braverman.