– USA, CA – The Walt Disney Company (NYSE: DIS) today announced the election of independent director Mark Parker as Chairman of the Board of Directors, effective following the AGM, to succeed Susan Arnold, who will not stand for re-election.
Mark Parker served as NIKE’s Chairman and CEO until 2020 when he became Executive Chairman. He will also chair a newly created Succession Planning Committee which will advise the Board on CEO succession planning, including a review of internal and external candidates.
“Mark Parker is an incredibly well-respected leader who over seven years as a Disney director has helped the Company effectively navigate through a time of unprecedented change,” said current Board chair, Susan Arnold. “During his four decades at NIKE, Mark has led one of the world’s most recognized consumer brands through various market evolutions and a successful CEO transition, and he is uniquely positioned to chair the Disney Board during this period of transformation.”
“Mark Parker’s vision, incredible depth of experience and wise counsel have been invaluable to Disney, and I look forward to continuing working with him in his new role, along with our other directors, as we chart the future course for this amazing company,” said CEO, Bob Iger.
Mark Parker said: “I am honored to have the opportunity to serve as Disney’s Chairman, and I look forward to working closely with Bob and his management team on a strategy of growth that balances investment with profitability, while preserving Disney’s core mission of creative excellence, to deliver shareholder value. At the same time, it is the top priority of mine and the Board’s to identify and prepare a successful CEO successor, and that process has already begun.”
About The Walt Disney Company
The Walt Disney Company has had a long-term track record of financial and creative success, built on the ability to leverage its rich intellectual property and unparalleled storytelling across its many businesses, from theatrical, streaming and linear broadcast to parks and resorts, and one of the most resonant names in sports, ESPN.
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