Disney names Susan Arnold as its first woman chairman

Walt Disney began his career in animation with the Kansas City Film Ad Company in Missouri in 1920. Walt Disney arrived in California in the summer of 1923 with a lot of hopes but little else. He had made a cartoon in Kansas City about a little girl in a cartoon world, called Alice’s Wonderland, and he decided that he could use it as his “pilot” film to sell a series of these “Alice Comedies” to a distributor. To star in this new series, he created a character named Oswald the Lucky Rabbit. Within a year, Walt made 26 of these Oswald cartoons. It was at the Hyperion Studio, after the loss of Oswald, that Walt had to come up with a new character, and that character was Mickey Mouse. Later on he went on to create all cartoon series and he created the most famous cartoon Mickey mouse and created a history. Walt Disney Co on Wednesday tapped Susan Arnold as its chairman of the board, the first woman to be named to the role in the entertainment company’s 98-year-long history. Arnold, who has been a board member for 14 years, will succeed Bob Iger on Dec. 31. Iger, who stepped down as Disney’s chief executive officer in 2020 after 15 years in the role, will leave the company by the end of this month. Arnold’s appointment comes at a time when big corporations are moving away from an organizational structure where the CEO and chairperson roles are held by a single person following a push by corporate-governance experts, shareholders and, in some cases, regulators to untangle the two roles. Arnold was formerly an operating executive of equity investment firm The Carlyle Group. She has also served in executive roles at Procter and Gamble and McDonald’s Corp.