Walt Disney’s Board of Directors elected Susan E. Arnold as the company’s Chairman of the Board.
According to a statement published by the company, Susan is the first woman to assume the position in 98 years and will take office on December 31, replacing Robert A. Iger.
The executive has been a Disney board member for 14 years and has served as an independent director since 2018.
“As I assume this new role as Chairman of the Board, I look forward to continuing to serve the long-term interests of Disney shareholders and working closely with CEO Bob Chapek as he builds on the company’s centuries-old legacy of creative excellence and innovation.” Susan said in the statement.
Robert A. Iger has served as chairman of the board since 2012 and as executive chairman of Disney since 2020. From 2005 to 2020, he led the company as CEO and was responsible for the acquisitions of Pixar (2006), Marvel (2009), LucasFilm ( 2012) and 21st Century Fox (2019), in addition to the opening of the first Disney theme park and resort in China and the Disney+ streaming service, in 2019, and ESPN+, in 2018.
“Susan is an incredibly esteemed executive, whose wealth of experience, unwavering integrity and expert opinion have been invaluable to the company since she joined the Board in 2007,” said Iger, who will leave the company at year’s end. “Having recently served as an independent Principal Director, Susan is the perfect choice for Chairman of the Board and I am confident that the Company is well positioned for continued success under her guidance and leadership,” he added.