Walt Disney Names Susan Arnold As Its 1St Chairwoman

Walt Disney has named Susan Arnold as its next chairman of the board, the first woman in the role at the 98-year-old entertainment company.

In a statement on Wednesday, the company said Arnold, who has been a board member for 14 years, will succeed Robert A. Iger on Dec. 31

"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," she said.

Iger described her as an "incredibly esteemed executive whose wealth of experience, unwavering integrity, and expert judgment" have been invaluable to the company.

Arnold has also served at top positions at The Carlyle Group, Procter & Gamble and McDonald's Corp., among others.

The appointment comes as the entertainment giant's streaming service Disney+ struggles with intense competition in attracting new subscribers with Netflix and the likes. -