It looks like we have a better idea as to who will be replacing Robert Iger when he steps down in 2018 as Disney has bumped Tom Stagges to COO of The Walt Disney Company. Staggs was informed of his promotion today.
“Tom is an incredibly experienced, talented and versatile executive who has led Parks and Resorts during a time of unprecedented growth and expansion, including the construction of Shanghai Disney Resort. His proven ability to lead a business as well as his successful tenure as Disney’s former CFO make him an ideal Chief Operating Officer, expanding his portfolio into all the company’s businesses,” Iger said in announcing the promotion of Tom Staggs to COO.
Staggs receiving the position as COO does not guarantee him as Iger’s replacement as the Disney board will watch him closely over the next 3 years up until Iger steps down as CEO and will then make a decision for the new CEO.
Tom has been in battle with Jay Rasulo over the past 5 years. Staggs has been with Disney for 25-years and spent 11 years as Disney’s CFO before heading the parks division of the company.
Currently, Rasulo is not working under contract and rumors are swirling that he will be leaving The Walt Disney Company with this recent news of Staggs taking the number two spot in the company.
Disney continues to flourish under the reign of Iger with the company announcing record profits and pushing the companies stock pass $100 a share on Wednesday.
Does Staggs have what it takes to head the giant company? Looks like we will in three years.