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  • New DIS Chairman of the Board chosen

    https://www.cnbc.com/2021/12/01/disn...-bob-iger.html

  • #2

    From today's Hollywood Reporter... note the last sentence:

    ________________

    The Walt Disney Company’s board of directors has named Susan Arnold, a 14-year member of the board, as its new chairman to succeed outgoing chair Bob Iger.

    Arnold will begin as chairman of the board on Dec. 31 after Iger leaves the company at the end of the year....

    Arnold expressed her “deepest gratitude” to Iger, who stepped down as CEO in February 2020 and assumed the executive chairman role through the end of his contract, which ends on Dec. 31.

    “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,” Arnold said. “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.”

    ________________


    Meanwhile, the Petition to Fire Bob Chapek has reached 80,000 signatures.

    "Disneyland is often called a magic kingdom because
    it combines fantasy and history, adventure and learning,
    together with every variety of recreation and fun,
    designed to appeal to everyone."

    - Walt Disney

    "Disneyland is all about turning movies into rides."
    - Michael Eisner

    "It's very symbiotic."
    - Bob Chapek

    Comment


    • #3
      Ah. That last sentence could mean everything, or nothing. There's no 'loyalty' at that level.

      Does anyone know anything about Ms Arnold? (Other than what's on Wikipedia)
      "Life is not about waiting for the storm to pass, it's about learning to dance in the rain.​"

      Comment


      • #4
        Originally posted by Stormy View Post
        Ah. That last sentence could mean everything, or nothing. There's no 'loyalty' at that level.

        Does anyone know anything about Ms Arnold? (Other than what's on Wikipedia)
        Uh yeah, she'll be in lock-step with Chapek, comes from the same mold, a Product Marketing person... basically they just poured gas on the dumpster fire that's Bob Chepek.

        Comment


        • #5
          Prior McDonald’s executive and a prior Heinz executive. Sounds like a match made in heaven.

          Comment


          • #6
            It should be noted that Arnold is the most tenured member on the board, with her having a whopping 8 years of seniority over the 2nd highest tenured board member (Maria Elena Lagomasino). Arnold has been on the board for almost as long as Iger has been CEO.

            Make no mistake, Chapek will have to answer to her. Not the other way around. Unlike Iger, Chapek does not currently hold the head seat on the board.

            Comment


            • #7
              And with Iger's departure, the value of the Disney stock follows suit....

              Comment


              • #8
                Originally posted by Spongeocto4 View Post
                It should be noted that Arnold is the most tenured member on the board, with her having a whopping 8 years of seniority over the 2nd highest tenured board member (Maria Elena Lagomasino). Arnold has been on the board for almost as long as Iger has been CEO.

                Make no mistake, Chapek will have to answer to her. Not the other way around. Unlike Iger, Chapek does not currently hold the head seat on the board.
                I agree. I think Arnold is looking at the falling stock price, along with near continuous bad press the company is getting, and likely going to hold Chapek more accountable for the company’s performance.

                I think the next nine months will be very telling. If the stock price continues to slide, D+ paid subscribers don’t show aggressive growth in 2022 and next year ends up worse for Disney than 2021, even with the pandemic factored in, that means by the end of 2022, the Disney company would have had three rough, investor disappointing years under Chapek.

                I just hope the next Disney CEO, whomever they may be, is able to save Disney and keep it from being sold to a company like Apple.

                Comment


                • #9
                  Originally posted by Jaygatzby View Post
                  ...I just hope the next Disney CEO, whomever they may be, is able to save Disney and keep it from being sold to a company like Apple.
                  Although it may be nothing more than PR-speak, Arnold's statement included two words that haven't been part of Chapek's M.O....

                  "I look forward to continuing to serve the long term interests of Disney’s shareholders."

                  "Disneyland is often called a magic kingdom because
                  it combines fantasy and history, adventure and learning,
                  together with every variety of recreation and fun,
                  designed to appeal to everyone."

                  - Walt Disney

                  "Disneyland is all about turning movies into rides."
                  - Michael Eisner

                  "It's very symbiotic."
                  - Bob Chapek

                  Comment


                  • #10
                    Originally posted by DisneyIPresume View Post
                    Prior McDonald’s executive and a prior Heinz executive. Sounds like a match made in heaven.
                    Greasy.

                    Comment


                    • #11
                      Originally posted by Mr Wiggins View Post

                      Although it may be nothing more than PR-speak, Arnold's statement included two words that haven't been part of Chapek's M.O....

                      "I look forward to continuing to serve the long term interests of Disney’s shareholders."
                      Myself......I seeing a little light at the end tunnel.......
                      But it still at the point.....WE WILL SEE
                      Soaring like an EAGLE !

                      Comment


                      • #12
                        Originally posted by Spongeocto4 View Post
                        It should be noted that Arnold is the most tenured member on the board, with her having a whopping 8 years of seniority over the 2nd highest tenured board member (Maria Elena Lagomasino). Arnold has been on the board for almost as long as Iger has been CEO.

                        Make no mistake, Chapek will have to answer to her. Not the other way around. Unlike Iger, Chapek does not currently hold the head seat on the board.
                        If any shareholder has read the annual proxy statements, it’s not a surprise that Chapek didn’t get the Chairman position and Ms. Arnold, as one of the Independent directors, was elected to succeed Iger as Chairman.

                        Previous proxy statements had to justify Iger’s dual position as Chairman and CEO, as Disney’s Corporate Governance Guidelines make it clear that a Independent director should be Chairman unless it is in the best interest of its shareholders.

                        https://thewaltdisneycompany.com/app...Guidelines.pdf

                        The Chairman of the Board shall in the normal course be an independent director unless the Board concludes that, in light of the circumstances then present when any such decision is made, the best interests of shareholders would be otherwise better served. In any circumstances in which the Board determines that the best interests of shareholders would be better served by a Chairman that is not an independent director, the Board shall (a) provide a written statement in its next proxy materials discussing why the different arrangement is in the best interests of shareholders, (b) in connection with each proxy statement thereafter for an annual meeting after which the Board expects the arrangement to continue, determine whether the arrangement remains in the best interests of shareholders and include a written statement in the proxy materials giving the reasons for this determination, and (c) designate one independent Director to serve as Lead Director…

                        When Iger became CEO in 2005, he wasn’t Chairman (as after Eisner’s reign it was clear that the board had to be more assertive) and served thru two past Chairmen (George Mitchell and John Pepper) before finally becoming Chairman in 2012.

                        Comment


                        • #13
                          New Year- New Disney?
                          I think Chapek , is looking at the "EXIT" sign......IMO
                          Soaring like an EAGLE !

                          Comment


                          • #14

                            The Petition to Fire Bob Chapek has passed 80,000 signatures, and a readers' poll on MiceChat's article about the new Chairman of the Board seems to agree:

                            ________________

                            Please Rate Bob Chapek's Performance as CEO

                            ***** - Best Disney CEO ever. . . . . 0%

                            **** - Good job as Disney CEO. . . 1%

                            *** - Just OK. . . . . . . . . . . . . . . . . . 6%

                            ** - Not a very good job. . . . . . . . . 23%

                            * - Terrible. . . . . . . . . . . . . . . . . . . 70%
                            ________________

                            5,758 votes as of this posting.


                            EDIT: Three hours later, the number of votes on the MiceChat poll has passed 6,000. Same percentage breakdown.

                            Last edited by Mr Wiggins; 12-02-2021, 03:45 PM.
                            "Disneyland is often called a magic kingdom because
                            it combines fantasy and history, adventure and learning,
                            together with every variety of recreation and fun,
                            designed to appeal to everyone."

                            - Walt Disney

                            "Disneyland is all about turning movies into rides."
                            - Michael Eisner

                            "It's very symbiotic."
                            - Bob Chapek

                            Comment


                            • #15
                              Originally posted by Mr Wiggins View Post

                              EDIT: Three hours later, the number of votes on the MiceChat poll has passed 6,000. Same percentage breakdown.
                              Geeeeee - Hoping Chapek breakdown,outside of the Door !
                              He cause so much damage with the company's relationship with its core fan base.........
                              IMO
                              Eagleman
                              Lord of the Sky
                              Last edited by Eagleman; 12-02-2021, 06:51 PM.
                              Soaring like an EAGLE !

                              Comment


                              • #16
                                I smiled at Iger saying "Susan is the perfect choice for Chairman of the Board..."

                                In other words, "I have been both CEO and Chairman, and while I picked Chapek to be CEO, I don't think he can be Chairman."

                                I think there are some big problems with Disney+ that will continue to hurt its subscriber growth. I won't go into detail, but anyone watching closely probably knows DIS stock hasn't reached the bottom yet.

                                Comment


                                • #17
                                  None of this matters IMHO...We need to be focusing on the real issues. Like Ken Potrock, Mary Niven, Kris Theiler and Patrick Finnegan. Mainly Ken Potrock who loves things like DIsney Golden Oak million dollar homes and Disney cruise bull. He is currently the president of Disneyland Resort. He is a Floridian out of his depth in SOCAL...It isnt Chapek that is doing this...IT'S HIM.

                                  Comment


                                  • #18
                                    Originally posted by disneywarcrafts View Post
                                    None of this matters IMHO...We need to be focusing on the real issues. Like Ken Potrock, Mary Niven, Kris Theiler and Patrick Finnegan. Mainly Ken Potrock who loves things like DIsney Golden Oak million dollar homes and Disney cruise bull. He is currently the president of Disneyland Resort. He is a Floridian out of his depth in SOCAL...It isnt Chapek that is doing this...IT'S HIM.
                                    The sad reality is that executive VPs in the Company serve at the whim of the CEO. They follow his example or they're out (example: Matt Ouimet).


                                    "Disneyland is often called a magic kingdom because
                                    it combines fantasy and history, adventure and learning,
                                    together with every variety of recreation and fun,
                                    designed to appeal to everyone."

                                    - Walt Disney

                                    "Disneyland is all about turning movies into rides."
                                    - Michael Eisner

                                    "It's very symbiotic."
                                    - Bob Chapek

                                    Comment


                                    • #19
                                      Originally posted by Mr Wiggins View Post

                                      The sad reality is that executive VPs in the Company serve at the whim of the CEO. They follow his example or they're out (example: Matt Ouimet).

                                      I honeslty feel like the current Disneyland resort team is in Chapek/current Disney ways image...I agree. But somewhere, somehow there has to be someone who can understand that little things like painting guardrails on a regular basis and sweeping up the walkways every night is in everyones best interest. Hiring people who want to be there and teaching employees the old school Disney enthusiasm would go a long ways towards improving park relations with their lifeblood, which is the SoCal residents.

                                      Comment


                                      • #20
                                        Originally posted by disneywarcrafts View Post

                                        I honeslty feel like the current Disneyland resort team is in Chapek/current Disney ways image...I agree. But somewhere, somehow there has to be someone who can understand that little things like painting guardrails on a regular basis and sweeping up the walkways every night is in everyones best interest. Hiring people who want to be there and teaching employees the old school Disney enthusiasm would go a long ways towards improving park relations with their lifeblood, which is the SoCal residents.
                                        YOUR RIGHT.........
                                        Little understanding about Today Disney executive's !
                                        There background is Sales................Marketing,
                                        There is no more ,old school Disney enthusiasm .

                                        And Today executive's have to be"YES" men /women ,to a person like Chapek
                                        who does not listen ,just give orders ,because he think, he know it all ! ! !
                                        That true reason Today Disney is on the wrong road ,when comes to Consumer!
                                        IMO

                                        Soaring like an EAGLE !

                                        Comment

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