Meet Susan Arnold, Disney's first woman chairperson in 98 years

Mickey Mouse now has a new chairperson. After 98 years, on December 1, Disney announced its first woman chairperson. Susan Arnold, who has been a Disney board member for the past 14 years and Independent Lead Director since 2018, will be succeeding Robert (Bob) Iger on December 31 this year.

Arnold has been an operating executive of The Carlyle Group since September 2013, President of Global Business Units of Procter & Gamble from 2007 to 2009, and director of McDonald's Corporation from 2008 to 2016. 

In the press release announcing her appointment, Susan said, "As I step into this new role as chairman (sic) 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.'

Bob praised Susan in the same announcment, saying, "Susan is an incredibly esteemed executive whose wealth of experience, unwavering integrity, and expert judgment have been invaluable to the Company since she first joined the Board in 2007." He added, "Having most recently served as independent Lead Director, Susan is the perfect choice for Chairman of the Board, and I am confident the Company is well-positioned for continued success under her guidance and leadership. It has been a distinct honour to work with Susan and our many other talented directors, and I am incredibly grateful for the support and wise counsel they have provided during my tenure."

This announcment comes at a time when large-scale companies are actively moving away from structures that involve the chief executive and chairperson roles being held by the same individual. This shift is a result of pressure from corporate governance experts and investors. Disney Studios Head Alan Horn, President and Chief Creative Officer of Disney Branded Television Gary Marsh, and company General Counsel Alan Braverman have also announced that they are leaving the company by the end of 2021.