Disney elects woman as chairman for first time in 98-year history

The image is from the Walt Disney Company.

The image caption is.

Disney's chairman-elect is Susan Arnold.

For the first time in Disney's 98-year history, a woman has been elected as its chairman.

Bob Iger will retire at the end of the year and Susan Arnold will take his place.

She was an executive at Carlyle.

Mr Iger, who stepped down as Disney's chief executive in 2020 after 15 years in the role, will leave the company by the end of this month.

"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," Ms

She has worked in senior roles at some of America's biggest companies.

Ms Arnold has been an executive at Carlyle Group for the last eight years, having previously held roles at McDonald's and P&G.

Mr Iger said that Susan is an "incredibly esteemed executive whose wealth of experience, unflagging integrity, and expert judgment have been invaluable to the company since she first joined the Board in 2007."

Her appointment comes as large companies are moving away from management structures where the chief executive and chairperson roles are held by the same person after pressure from corporate governance experts, investors and, in some cases, regulators to separate the two key positions.

Disney has been led by Mr Iger since 1996, and his exit marks the end of an era.

Disney made a number of acquisitions during his time as chief executive. The firm opened its first theme park in mainland China.

Several Disney executives have announced plans to leave by the end of the year, including studios head Alan Horn, president and chief creative officer of Disney branded television Gary Marsh and company general counsel Alan Braverman.

The caption is media.

Health workers are at the theme park.