"Having most recently served as independent Lead Director, Susan is the perfect choice for Chairman of the Board, and I am confident the Company is well-positioned for continued success under her guidance and leadership," Robert Iger, whom Arnold is set to replace on the new post, was quoted as saying in a statement issued overnight to Thursday.
Iger, who is also Disney CEO, will leave the company at the end of the year, while Arnold, who has been a part of the board for 14 years, will assume her new position on December 31, 2021, according to the statement.
Arnold held key executive posts in such companies as Procter&Gamble, McDonald’s, NBTY, and others.
Disney was founded in 1923 by US animator Walt Disney and his brother Roy. To date, it is one of the world’s top entertainment corporations.