Disney names former Nike CEO Mark Parker as its next chairman

On Wednesday, the Walt Disney Co. announced that Mark Parker, former CEO of Nike, will be taking over as chairman of the board effective March 9th (the day of their annual shareholders meeting). By having Mr. Parker at the helm, they hope to usher in a new era and provide innovative solutions for long-term success.

After seven years on Disney’s board, Parker will take the helm from Susan E. Arnold in order to comply with the company’s tenure policies. Additionally, he serves as executive chairman of Nike.

In a swift move less than two months after Bob Iger came back to the helm as Disney’s CEO, an announcement was made. Iger stated in a news release-

“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.”

For fourteen years, Parker steered Nike as its CEO and encouraged the sports apparel brand to unprecedented growth. He said-

“I am honored to have the opportunity to serve as Disney’s chairman, and I look forward to working closely with Bob and his management team on a strategy of growth that balances investment with profitability, while preserving Disney’s core mission of creative excellence, to deliver shareholder value. At the same time, it is the top priority of mine and the board’s to identify and prepare a successful CEO successor, and that process has already begun.”

After the stock market close, Disney shares saw a slight uptick in trading.

Disney is confident that Mr. Parker will be able to bring about the innovation and sustainability needed in order to ensure growth for the company’s future. With his past success at Nike, and a focus on strategy, Disney is surely in good hands with their new chairman.

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