For The First Time In The Company’s 98-Year Existence, Disney Has Appointed A Female As Chair.

Susan Arnold, a 14-year Disney top executive, will replace Bob Iger at the end of this year. She formerly worked as an executive at the global investment company Carlyle.

Mr. Iger, who stepped down as CEO of Disney in 2020 after 15 years in the position, will leave the corporation by the month-end.

“As I take on this new position as chair of the company, I look forward to continuing to serve the long-term interests of Disney’s stockholders.”

“I also look forward to collaborating closely with CEO Bob Chapek as he builds on the firm’s century-long legacy of inventive innovation and quality,” Ms. Arnold said in a statement.

She has also held executive positions at several of America’s largest corporations.

Over the last eight years, Ms. Arnold was an executive with Carlyle Group, having previously worked at consumer goods major Procter and Gamble and fast-food behemoth McDonald’s.

“Susan is an immensely regarded leader whose breadth of experience, steadfast honesty, and excellent judgment have been important to the firm since her first joining the Board in 2007,” said Mr. Iger.

Her appointment comes when large corporations are shifting away from the organizational structure in which the chief executive and chairperson roles are held by the same person, following pressure from governance experts, investors, and, in some instances, regulatory agencies detach the two important positions.

Mr. Iger’s departure marks the end of an era at Disney, where he has held executive positions since 1996.

During his tenure as CEO, Disney completed several significant acquisitions, such as the buyouts of Pixar, Marvel, Lucasfilm, and 21st Century Fox. In addition, the company established its first amusement park and resort in mainland China in 2016.

Read more- Jessica Henwick Decided To Work With Keanu Reeves After Matrix Resurrections, And Marvel Issued An Ultimatum.

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