Posted on 01/11/2023 8:03:12 PM PST by 6thavenue
The Walt Disney Co. is shaking up its board of directors, tapping Nike executive chairman Mark Parker to be chairman, effective as of its next annual meeting.
Susan Arnold, who has been chair since Bob Iger retired from the company at the end of 2021 (and who asked him to return last year), will step down from the board at that time. The company says her departure is consistent with Disney’s 15-year board term limit.
“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 Bob Iger, Disney’s CEO, in a statement. “On behalf of my fellow Board members and the entire Disney management team, I also want to thank Susan for her superb leadership as Chairman and for her tireless work over the past 15 years as an exemplary steward of the Disney brand.”
However, the company also disclosed that it is facing a proxy fight from activist investor Nelson Peltz and his fund Trian Partners. Trian has nominated Peltz to serve on the board. In a presentation published on Jan. 11, the investment firm described many of Disney’s challenges as “self-inflicted” and advocated for the entertainment giant to restore its dividend by fiscal year 2025, seek more “efficiencies and additional profits” and expressed concern that Disney management’s direct-to-consumer streaming push with Disney+ “failed to effectively communicate the financial rationale behind the strategic pivot.”
(Excerpt) Read more at hollywoodreporter.com ...
Put a fork in Disney, they’re done.
Aren’t the hispanic and black communities up in arms over this type of homo grooming?
The parks are loosing customers and Disney is making deals for the parks
I haven’t been to a Disney park in over 30 years (I liked Disneyland, didn’t like Disney World, which seemed like a perversion of Walt’s dream, something that later became the company’s mission statement.) But I’ve heard recently from a lot of people who were Disney devotees that they won’t go back again. Not only because of all the sick grooming, but also the parks have gone downhill while getting way more expensive.
According to the folks I know who follow this closely, Disney doesn’t care because it’s planned decline. They’re looking for that sweet spot where they drive away customers who demand quality at an affordable price while keeping the diehards who are willing to cough up ever-higher fees for second rate service. It’s destroying the company’s reputation, but financially, it’s a win-win: more money for providing less service to fewer guests. Again, something that must have Walt spinning in his cryo-chamber.
These fools think putting someone from China-Nike in charge is gonna help?
I think Frozen may have tiptoed around the edges of that issue while definitely pushing “girl power” defiance and even broader leftist “anything goes” hedonism. Read the lyrics of Let it Go sometime and you’ll see what I mean. Great song musically, but the lyrics always made me cringe.
Here’s a hint for Disney management: Transgendered Spiderperson
I don’t see anything in that rationale about having disgusted a majority of their base marketplace.
i agree, disneyland is very expensive, was last there in 2014, even the food was expensive. and yes the place is dirty too.
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