The Walt Disney Company has named Nike executive chairman Mark Parker as its new chairman, replacing longtime board member Susan Arnold, whose term limit is expiring.
Parker, a Disney board member since 2016, takes over Disney’s board at a time of transition for America’s largest media company. Bob Iger recently returned as CEO after a brief hiatus. “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 in a statement.
Dan Loeb, the activist investor and Third Point CEO, made headlines in August when he suggested “a strong case can be made that the ESPN business should be spun off to shareholders with an appropriate debt load.” Another activist shareholder group, Trian Partners, nominated its leader Nelson Peltz as a director. Disney said Wednesday it will work with Peltz but opposed his appointment to the board. “Mr.
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