Disney has appointed a female president for the first time in its 98-year history.
Written byTimes Magazine
Walt Disney has elected a woman as chairman for the first time in the entertainment giant's 98-year history. Susan Arnold, who has been on Disney's board for 14 years, will replace Bob Eiger this year. He was previously the CEO of global investment firm Carlyle.
Mr. Eiger, who stepped down as Disney CEO in 2020 after 15 years in this role, will leave the company later this month. As I assume this new role as CEO, I look forward to serving the long-term interests of Disney shareholders and working closely with CEO Bob Chapek as he builds on the company's legacy of creative performance and innovation. Ms. Arnold said in a statement.
Over the past eight years, Ms. Arnold has been CEO of the Carlyle Group, having previously held positions at consumer goods giant Procter and Gamble and fast-food chain McDonald's.
His appointments come as large companies move away from management structures where the same person occupies the CEO and chairman roles after being pressured by corporate governance experts, investors, and, in some cases, regulators to split the two essential parts.
With the departure of Mr. Eiger, an era ended for Disney, which has led the company since 1996. During his tenure as CEO, Disney made several essential acquisitions, including Pixar, Marvel, Lucasfilm, and 21st Century Fox. In 2016, the company opened its first theme park and resorted in mainland China.
Several other Disney executives have announced that they will be leaving at the end of the year, including studio manager Alan Horn, Gary Marsh, president and CEO of Disney Branded Television, and Alan Braverman, its chief advisor.
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