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  "documentTitle": "The Walt Disney Company (DIS)",
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  "notes": "Uses a three-column structure to highlight specific governance concerns: objectivity, focus, and over-commitment.",
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      "text": "Mark Parker, a long-tenured Disney Director, now serves as both Executive Chairman of Nike and as Chairman of Disney, which is nearly unprecedented",
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      "text": "Objective Board? Focused Board? Chairman Spread Thin?",
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      "text": "We believe a lack of objectivity and focus at the Board level has exacerbated Disney’s underperformance.",
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      "text": "\"[Bob] Iger had personally selected every member of the board, which is surprisingly lacking in media and entertainment experience. Iger is personally close with several of them, including Nike Executive Chairman Mark Parker and General Motors CEO Mary Barra [who is on Disney's Compensation Committee]. In addition, the wife of another director, Michael Froman, then vice chairman of Mastercard and now president of the Council on Foreign Relations, had been housemates with Iger's wife...\" — CNBC, September 2023; \"[G]iven the many challenges [Disney faces], Parker will be spreading himself thin\" as Chairman of both Disney and Nike, and \"only a handful of executives\", including Rupert Murdoch [who recently stepped down from serving as Chairman of Fox and News Corp.], chair two S&P 500 companies.\" — Reuters, January 2023",
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      "text": "Source: FactSet as of 02/23/24, CNBC article titled 'Disney's Wildest Ride: Iger, Chapek and the Making of an Epic Succession Mess' published by Alex Sherman on 09/08/23, Reuters Breakingviews article titled 'At Walt Disney, the G in ESG Stands for Goofy' published by Jennifer Saba on 01/11/23.",
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