Susan Arnold to become first female chairman of Disney in history

16:30, 02 December 2021
Susan Arnold to become first female chairman of Disney in history Photo: Yoshio Tsunoda/AFLO

The board member will replace Bob Iger at the end of the year.

The Walt Disney Company has announced that Susan Arnold was elected to become the entertainment titan’s new executive chairman. Therefore, she will become the first woman to take the position in Disney’s almost 100-year history.

Arnold has been a board member for 14 years and also worked as an independent lead director. She will replace Bob Iger who earlier unveiled that he was going to leave the post by December 31.

"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," Iger said in a statement.

He has already approved of Arnold’s appointment and expressed confidence that Disney will develop under her leadership and gain more success.

Arnold has previously worked as an operating executive of the Carlyle Group since 2013. Besides, she held positions of Procter & Gamble’s Vice Chairman (2004) and President (2007). She frequently starred in lists of the most powerful women issued by Fortune, the Wall Street Journal, Forbes, and others.

Iger has served as the company’s chairman since 2012 after John Pepper retired in March that year. Disney’s market capitalization has grown by over $250 bln since he took office. According to companiesmarketcap, Disney was able to make an incredible profit following the pandemic outbreak and reached its peak in March 2021 with an evaluation of approximately $357 bln.

Disney will celebrate its 100th anniversary in 2023 commemorating Walt Disney and Roy Disney who founded Disney Brothers Cartoon Studio in 1923.