Post by account_disabled on Feb 18, 2024 9:27:40 GMT
Since 2005 and until relatively recently, the importance of environmental, social and governance (ESG) criteria, used as a corporate governance and investment framework, has been increasing. However, of the three letters of the acronym, the letter G is necessary to support the "E" and the "S", in addition, it is practically mandatory to generate long-term value.
Corporate governance is a tool that allows Middle East Mobile Number List business management with a risk anticipation scheme in an environment of clarity and trust for all interested parties, such as investors, shareholders or employees.
However, recently Disney's ESG, particularly its corporate governance, has been compared to the clumsy and absurd behavior of Goofy , one of the entertainment giant's characters, according to Reuters columnist Jennifer Saba .
Is Disney's governance in crisis?
According to the author, since the return of former CEO, Bob Iger, to assume his old position - replacing Bob Chapek, after only two years - and the appointment of Mark Parker - current executive chairman of Nike, Inc - as the new president of The company, Disney's G for ESG, has acted clumsily, making poorly managed transition decisions.
Iger's reinstatement has had a positive response from staff and Hollywood figures, as he had held the position for 15 years, and in February 2020 the company announced his departure. He explained that one of the big reasons for his resignation was because he needed a break from the great burdens that the position carried.
With less than three years in office, in 2022 Disney fired Bob Chapek as CEO, derived from a series of setbacks that he had during his administration such as a loss of 1.5 billion in the streaming business . Additionally, staff protested when the company refused to take a firm stance against Florida's "Don't Say Gay" law , to name a few.
Although Bob Iger's return has also generated criticism, considering that his previous mandate included the goal of finding and preparing a replacement. So he is now under pressure to complete this task before he ends his two-year contract.
According to Business Insider , during Chapek's first year as CEO, Iger remained CEO and there were tensions between the two. Even The Wall Street Journal reported that Iger undermined Chapek's leadership.
Another setback for Disney: the vacancy that Susan Arnold
As Saba explains, the recent appointment of Mark Parker as president of the company to replace Susan Arnold — who is leaving only because she completed 15 years as director, something determined by Disney rules — marks another disruptive change that the company was able to anticipate. company.
Arnold was the first woman to serve as president of the entertainment giant. The former Procter & Gamble Co executive has been a director since 2007 and took over as Disney chairman after Iger, now 71, announced her retirement in December 2021.
This type of disorder at the government level only feeds disgruntled shareholders and other interested parties such as employees. According to PWC , organizations that have invested in and focused on the “G” aspect of ESG have been rewarded with the trust of their stakeholders, including stock market performance.
In conclusion, the failures faced by Disney's ESG are a call for the entertainment giant to address the devastating effects that the clumsy decisions that the board of directors have made and that seem to go on forever, by putting the challenges at the forefront to a manager who already assumes a position of such responsibility at Nike, Inc, as Saba highlights.
Corporate governance is a tool that allows Middle East Mobile Number List business management with a risk anticipation scheme in an environment of clarity and trust for all interested parties, such as investors, shareholders or employees.
However, recently Disney's ESG, particularly its corporate governance, has been compared to the clumsy and absurd behavior of Goofy , one of the entertainment giant's characters, according to Reuters columnist Jennifer Saba .
Is Disney's governance in crisis?
According to the author, since the return of former CEO, Bob Iger, to assume his old position - replacing Bob Chapek, after only two years - and the appointment of Mark Parker - current executive chairman of Nike, Inc - as the new president of The company, Disney's G for ESG, has acted clumsily, making poorly managed transition decisions.
Iger's reinstatement has had a positive response from staff and Hollywood figures, as he had held the position for 15 years, and in February 2020 the company announced his departure. He explained that one of the big reasons for his resignation was because he needed a break from the great burdens that the position carried.
With less than three years in office, in 2022 Disney fired Bob Chapek as CEO, derived from a series of setbacks that he had during his administration such as a loss of 1.5 billion in the streaming business . Additionally, staff protested when the company refused to take a firm stance against Florida's "Don't Say Gay" law , to name a few.
Although Bob Iger's return has also generated criticism, considering that his previous mandate included the goal of finding and preparing a replacement. So he is now under pressure to complete this task before he ends his two-year contract.
According to Business Insider , during Chapek's first year as CEO, Iger remained CEO and there were tensions between the two. Even The Wall Street Journal reported that Iger undermined Chapek's leadership.
Another setback for Disney: the vacancy that Susan Arnold
As Saba explains, the recent appointment of Mark Parker as president of the company to replace Susan Arnold — who is leaving only because she completed 15 years as director, something determined by Disney rules — marks another disruptive change that the company was able to anticipate. company.
Arnold was the first woman to serve as president of the entertainment giant. The former Procter & Gamble Co executive has been a director since 2007 and took over as Disney chairman after Iger, now 71, announced her retirement in December 2021.
This type of disorder at the government level only feeds disgruntled shareholders and other interested parties such as employees. According to PWC , organizations that have invested in and focused on the “G” aspect of ESG have been rewarded with the trust of their stakeholders, including stock market performance.
In conclusion, the failures faced by Disney's ESG are a call for the entertainment giant to address the devastating effects that the clumsy decisions that the board of directors have made and that seem to go on forever, by putting the challenges at the forefront to a manager who already assumes a position of such responsibility at Nike, Inc, as Saba highlights.