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Yahoo Finance's Julie Hyman breaks down some of the leading national headlines including Susan Arnold being named as Disney's board chair, the MLB lockout after a collective bargaining agreement expired, and the WTA suspending tournaments in China over Peng Shuai safety concerns.
JULIE HYMAN: Walt Disney's board of directors has elected Susan Arnold as its new chairman. She'll replace longtime CEO Bob Iger, who will depart from the company by the end of this month after his 15-year long stint as CEO that ended in 2020. Arnold has been a Disney board member for 14 years, and for the last eight years, has been an executive at global investment firm Carlyle. She previously held roles at Procter & Gamble and at McDonald's. Her appointment comes as company managements are, in general, moving away from having the CEO and chairperson roles be held by the same person.
For the first time in nearly 30 years, Major League Baseball has entered a lockout. After the owners of MLB's 30 clubs and the players failed to reach a collective bargaining agreement before the 11:59 PM expiration last night, the owners imposed a lockout. During a lockout, team officials and players cannot communicate in any way or make any trades. There is no clear end date yet to the lockout. The start of the 2022 MLB regular season is March 31 of next year.
The Women's Tennis Association has suspended all tournaments in China, including in Hong Kong, amid concern about the safety of Chinese tennis player Peng Shuai. Shuai accused a former government official in China, Zhang Gaoli, of sexual assault and had disappeared from the public view for three weeks after making the accusations. Since she said she is safe and well during a video call with the president of the Olympic Committee, the WTA chief, Steve Simon, said he has serious doubts that Shuai was free, safe, and not subject to intimidation. In response to the suspension, China said it opposes the politicization of sports.