Thursday, Walt Disney Co. (DIS) Chief Executive Officer Robert Iger said that two of the company's most senior executives would assume new roles at the end of the year by swapping their existing roles.
According to Iger, Thomas Staggs, senior executive vice president and Disney's chief financial officer or CFO, a 20 year Disney veteran, will become chairman, Walt Disney Parks and Resorts. In his new position, Staggs will preside over the company's vacation businesses, which span three continents and include five-world class destinations, a top rated cruise line and the most popular resort locations in North America, Europe and Asia.
Also, James Rasulo, chairman of Disney Parks and Resorts, a 23-year Disney veteran, will become senior executive vice president and Disney's chief financial officer. In his new role, Rasulo will oversee the company's worldwide finance organization, corporate strategy and development, brand management, corporate alliances, investor relations, treasury and risk management activities, controller functions, information systems, corporate responsibility, real estate and taxes.
Both Rasulo and Staggs are longtime Disney executives who serve on the board of Euro Disney S.C.A., the French parent company of Disneyland Paris.
Staggs joined Disney in 1990 as manager of Strategic Planning and soon advanced through a series of positions of increased responsibility, becoming senior vice president of Strategic Planning and Development in 1995 before becoming CFO and executive vice president in 1998. He worked in investment banking firm Morgan Stanley & Co. before joining Disney.
Rasulo joined Disney in 1986 as director, Strategic Planning and Development, advancing to more senior positions there, and later became senior vice president, Corporate Alliances. He then led Disney Regional Entertainment before moving to Paris as president, Euro Disney before eventually becoming its chairman and CEO in 2000. Before joining Disney, he held positions with Chase Manhattan Bank and the Marriott Corp.
DIS closed Thursday's last trade on the New York Stock Exchange at $29.05, down $0.24 or 0.82%.
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