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Nike chair and Disney director Mark Parker is set to succeed Susan Arnold as Disney’s new chairman
Tom Anstey | Planet Attractions | 12 Jan 2023
Mark Parker - the executive chairman of Nike - is set to succeed Susan Arnold as Disney chairman following the company’s Annual Meeting of Shareholders.
Parker, who has been a director of Disney since 2016, will also chair a newly-created Succession Planning Committee of the Board, with the committee set to advise the board on CEO succession planning.
“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,” said Parker.
“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.”
Bob Iger made a shock return to Disney as CEO in November last year, with Bob Chapek ousted after less than three years in the role. Iger, who stepped down as company CEO in 2020 after 15 years in the role, officially left Disney in 2021, only to return to the company just a year later.
“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 Iger.
“On behalf of my fellow board members and the entire Disney management team, I also want to thank Susan for her superb leadership as chairman and for her tireless work over the past 15 years as an exemplary steward of the Disney brand.”
Arnold, who in December 2021 was named the first female chair in company history - will not stand for re-election in accordance with Disney’s Board Tenure Policy, which limits a seat at the table to 15 years. The board will also reduce in size to 11 members.
“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 Arnold.
“During his four decades at Nike, Mark has led one of the world’s most recognised 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.”
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