1/11, 10:31 PM (Source: TeleTrader)
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Parker named Disney's new Board chairman

Walt Disney Company's Board of Directors announced on Wednesday in a statement that Mark Parker, a member of the Board and Executive Chairman of NIKE, Inc., was chosen to succeed current Disney Board Chairman Susan Arnold, with the decision coming into effect after the Annual Meeting of Shareholders.

Arnold was not eligible for re-election due to the company's 15-year term limit and 11 members will be left. "Parker is an incredibly well-respected leader who over seven years as a Disney director has helped the Company effectively navigate through a time of unprecedented change," Arnold commented.

Disney CEO Robert Iger shared that he is looking forward to working with Parker in his new role, as his "vision, incredible depth of experience and wise counsel have been invaluable to Disney." Meanwhile, Parker underscored that he is ready to set up "a strategy of growth that balances investment with profitability, while preserving Disney’s core mission of creative excellence, to deliver shareholder value."

Baha Breaking News (BBN) / AY