Pepper to Become Disney Chairman
BURBANK, Calif.--(BUSINESS WIRE)--June 28, 2006--The Walt Disney Company Board of Directors today elected independent Disney Director and former Procter & Gamble Chairman and CEO, John E. Pepper, Jr., to serve as non-executive Chairman of the Board, effective January 1, 2007. Pepper will succeed Senator George J. Mitchell, who has served as Disney Chairman since March, 2004.
Last December, the Disney Board of Directors requested that Senator Mitchell postpone his planned retirement at the 2006 Annual Meeting of Shareholders and stand for re-election to facilitate an orderly chairman succession process. With the selection of his successor as Chairman now in place, Senator Mitchell will step down as Chairman and retire from the Board on December 31, 2006.
"Since joining the Disney Board, John has quickly immersed himself in our business and shared his broad and deep expertise in corporate management, global brand building and leadership development," said Robert A. Iger, President and CEO, The Walt Disney Company. "In John's leadership of the Board, Disney's shareholders will benefit from his notable record of success in leading and growing one of the world's largest consumer products companies. He is a man of great integrity and we all look forward to working with him in his new role.