New Disney CEO Bob Chapek elected to the board [Los Angeles Times (CA)]
Walt Disney Company (The) (DIS)
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Source: Los Angeles Times
New Walt Disney Co. Chief Executive Bob Chapek has been elected to the company’s board of directors, Disney said Wednesday. The appointment comes seven weeks after Disney named Chapek CEO , replacing Bob Iger, who took on the role of executive chairman after 15 years in the top job. Chapek’s election to the board was expected. Disney had begun CEO succession planning in November and in February said it would name Chapek to the board, but it did not disclose the timing for such move. At the time he was named to the top job, Disney had already printed its proxy in advance of its annual shareholders meeting. Still, the announcement takes on greater significance given the damaging effects of the coronavirus crisis on Disney’s businesses , including its lucrative parks and movie studio. In a statement, Iger and independent lead board director Susan Arnold praised Chapek’s leadership amid the crisis. “Bob Chapek has demonstrated remarkable leadership in the face of unprecedented challenges
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