Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year.
She was formerly an executive at global investment firm Carlyle.
Mr Iger, who stepped down as Disney’s chief executive in 2020 after 15 years in the role, will leave the company by the end of this month.
“As I step into this new role as chairman of the board, I look forward to continuing to serve the long-term interests of Disney’s shareholders and working closely with CEO Bob Chapek as he builds upon the company’s century-long legacy of creative excellence and innovation,” Ms Arnold said in a statement.
She has also served in senior roles at some of America’s biggest companies.
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