NEWS: Disney Elects Nike's Mark Parker as New Chairman of the Board

There have been a lot of Disney executive shakeups since Bob Iger came back as CEO in November 2022.

Burbank Disney Company Headquarters ©️LA Times

Chapek left the company as well as his “right-hand man” and some other Disney employees. Now, it looks like someone is joining The Walt Disney Company as a chairman.

Disney’s Board of Directors just announced that they have elected Mark Parker as Chairman of the Board. This change will be effective after the Annual Meeting of Shareholders, according to Business Wire.

Mark Parker is a 7-year member of the Disney Board and he is the Executive Chairman over at Nike. He is replacing Susan E. Arnold who is not standing for re-election due to the 15-year term limit under the Disney Board Tenure Policy. This means the Board of Directors will only have 11 members.

Arnold said, “Mark 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. During his four decades at NIKE, Mark has led one of the world’s most recognized consumer brands through various market evolutions and a successful CEO transition, and he is uniquely positioned to chair the Disney Board during this period of transformation.”

Parker will also chair the new Succession Planning Committee of the Board — this will advise the next CEO after Bob Iger.

We’ll continue to keep you updated on the latest Disney news, so stay tuned.