Mark Parker and John Donahoe
Mark Parker and John Donahoe
Mark Parker and John Donahoe

Former Nike CEO Mark Parker Steps Into Disney Chairman Position

Former Nike CEO Mark Parker is the new chairman of the Walt Disney Company. He replaces Susan Arnold, who has nearly approached her term limit in the position.

Parker became one of the directors of the company in 2016.

‘I am honoured to have the opportunity to serve as Disney’s Chairman, and I look forward to working closely with Bob [Iger, Disney CEO] 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.’ Parker stated.

The announcement is still fresh, meaning there aren’t any tangible changes at a consumer level yet. As reported by CNN, it seems Disney are facing some challenges: the company’s streaming service lost $1.5 billion in the fourth quarter, and ESPN’s viewership, which is majority owned by the company, is down.

Industry reports state Parker will continue serving as the executive chairman at Nike concurrently with his new role. He was previously Nike CEO until 2020, after which he was replaced by John Donahoe.

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