Walt Disney Co.’s
DIS,
board of directors on Wednesday announced it has elected independent director Mark Parker as chairman. Parker, a seven-year member of Disney’s board and executive chairman of Nike Inc.
NKE,
will succeed Susan Arnold, who fulfilled a 15-year term limit on the board. As a result, the size of the board will be reduced to 11 members. Meanwhile, investment fund Trian Fund Management has nominated founder Nelson Peltz for election as a Disney director. Disney’s shares were up 1.6% in extended trading Wednesday.
