Susan Arnold will succeed Bob Iger as chairman of the board at Disney, the company announced Tuesday.
Arnold, a 14-year member of the Disney board who has served as its independent lead director since 2018, will succeed Iger as chairman of the board when he departs Disney at the end of the year.
Iger had served as chairman of the board since 2012 and had kept that role even after he stepped down as CEO last year, giving way to Bob Chapek. For the past year, Iger has held the role of executive chairman.
Arnold was formerly an operating executive of the equity investment firm The Carlyle Group, where she served from 2013 to 2021. Previously, she served as president of the global business units of Procter & Gamble from 2007 to 2009. Prior to that, Arnold held a variety of roles at P&G including vice chair, beauty and health from 2006, vice chair, beauty from 2004, and president, global personal beauty care and global feminine care from 2002. She was a director of McDonald’s Corp. from 2008 to 2016, and a director of NBTY, Inc. from 2013 to 2017.
“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,” Iger said in a statement. “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 honor 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.”
“On behalf of the board, I would like to express my deepest gratitude to Bob Iger for his extraordinary leadership over the past decade-and-a-half,” Arnold said in a statement. “Bob has led Disney to amazing heights both creatively and financially, with his clear strategic vision for delivering high-quality branded storytelling, embracing cutting-edge technology, and expanding internationally, and he’s left an indelible mark on The Walt Disney Company that will be felt for generations to come. 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.”