Disney COO Thomas Staggs Steps Down

[Buttrcp16]

"In an unexpected move that muddles the Walt Disney's plans for succession when Bob Iger steps down as CEO, Thomas Staggs, promoted to COO 14 months ago, will step down from the role next month, the company said Monday.

The surprise move comes as the Disney's board of directors announces it "will broaden the scope of its succession planning process to identify and evaluate a robust slate of candidates for consideration."

http://www.hollywoodreporter.com/news/bob-igers-heir-apparent-thomas-880543

 

[HopperFan]

Interesting ...... certainly there is much more to the story.

"Staggs, who was seen as a successor to Chief Executive Bob Iger, will remain employed by Disney as a special adviser to Iger through the company's fiscal year."

 

[Murron]

Looks like Tom Staggs, Iger's heir apparent is leaving as Disney's COO.

http://money.cnn.com/2016/04/04/media/thomas-staggs-disney/index.html?iid=hp-toplead-dom

 

[Eoghann]

Yeah that is surprising isn't it. Very quick departure too... Makes you wonder.

 

[Murron]

An update ... with more information

http://www.nytimes.com/2016/04/05/business/media/thomas-staggs-walt-disney-company.html

 

[Mickey28]

Good Riddance

 

[MommaBerd]

And no heir apparent...

 

[bbmassey]

Getting the feeling that Iger may have plans to stay on board longer after his failed NFL project.

 

[mangar]

The news I read said that he oversaw the Shanghai project. I wonder if the inability to control the cost overages for that project and the resulting need to clamp down on expenses in other areas to compensate for it was the true cause of his getting the boot? The next Disney financials report will be interesting.

 

[TLSnell1981]

Why am I concerned, that his replacement will be even worse?

 

[luisov]

Getting the feeling that Iger may have plans to stay on board longer after his failed NFL project.

If I recall, he did say he wanted to see Star Wars land completed under his direction. I wouldn't be surprised if Iger postpones his retirement once again.

 

[rteetz]

This is big news. See what happens when I'm out for most of the day!

 

[mummabear]

If I recall, he did say he wanted to see Star Wars land completed under his direction. I wouldn't be surprised if Iger postpones his retirement once again.

He is only 65 so if I understand the bird rules correctly he can remain for another 10 years

 

[Tom P.]

I am hoping that this is a first sign that the Disney board has realized that a shake-up involving fresh blood is needed at the company.

Perhaps not. Perhaps this is just an isolated matter involving something to do with Staggs alone, and won't affect anything else about the company. But it could also be a recognition by the board that the bean-counters are squeezing the company too tightly and that fresh creative juices are needed. Could we be on the verge of a 1984 level shake-up? Maybe not. But this is certainly a major enough step that it could be the beginning of something significant.

Only time will tell, I suppose.

 

[mom2rtk]

Why am I concerned, that his replacement will be even worse?

You take that back!

I'm hoping for better.

 

[mom2rtk]

I am hoping that this is a first sign that the Disney board has realized that a shake-up involving fresh blood is needed at the company.

Perhaps not. Perhaps this is just an isolated matter involving something to do with Skaggs alone, and won't affect anything else about the company. But it could also be a recognition by the board that the bean-counters are squeezing the company too tightly and that fresh creative juices are needed. Could we be on the verge of a 1984 level shake-up? Maybe not. But this is certainly a major enough step that it could be the beginning of something significant.

Only time will tell, I suppose.

From you lips to God's ears.

 

[ellie05]

Very interesting turn of events...

 

[lugnut33]

Going to guess the person who came up with the After Hours, Magic Morning, and preferred parking crap is now in line to be CEO.

 

[lockedoutlogic]

Woah...that's like a 7.5 on the corporate Richter scale

 

[jaxonp]

This is big news. See what happens when I'm out for most of the day!

You should probably go away more often then.