Disney COO Thomas Staggs Steps Down

At best, that is the symptom and not the cause. They wouldn't guarantee him the job because ________________________________. If everything had been hunky dory, they would have said: "You have nothing to worry about, Tom." But they didn't, and there has to be a reason for that. And that reason(s) is why he left. There is something that they saw or didn't see in him that made them say: "We can't make any promises", or worse yet: "We really don't see this working out for you, Tom." It wasn't that conversation that made him leave. It was the reasoning behind why they couldn't promise him the job that made him leave.

By way of example, a person who works under you botches three projects in a row. That person comes into your office and says: "I hear that the company will be promoting someone from my Unit. I would like to be considered for that promotion. Do you think I have a chance?" You say: "I don't see you getting that promotion." The employee then resigns. Did they resign because of the conversation, or was their departure the result of their poor performance that then caused you to tell them that the promotion was not in the cards? The conversation is simply the last step of a process that was already in motion.


Sure... but your post insinuated that Staggs left because of Disney being some sinking ship or going to suffer a downturn and all evidence points to the contrary. Staggs left cause they wouldn't guarantee it. They wouldn't guarantee because of various potential reasons (enemies on the board, Shanghai overruns, Iger changing his mind, something else). In other words, Stagg quitting was like a general leaving the army because he got passed over for the 4th star. HE chose to the leave, but he was never going to get to where he wanted.
 
Jim Hill and Len Testa came out with a show on this subject. China/Shanghai is a interesting subject with the Disney company. Staggs was well involved in this Chinese park and as we all know that park is behind schedule and way over budget. Jim also mentions that there might be some involvement in the Panama Papers. Either way this is one major change in Disney management that is going to be very very interesting to follow along.

I've been wondering what US politicians and Businessmen and 0.1%ers were gonna get swept up. Be nice to see some major jail time for people breaking those laws.
 
I'll say again that maybe I'm in the minority but I certainly enjoyed the original concept of MGM Studios. Getting to do the tours of the TV production facilities and the animation department when it was operating were super interesting. I also really enjoyed the stage shows that came and went, the sound studio and the Superstar TV things where they blue screened people into old sitcom skits. I also liked the real backlot tour where you actually saw things like the Golden Girls house and the other props.

The massive change needed now has more to do with a decade of neglect and closures without replacements than the initial design.
It was a cool concept. The problem is they could have done MUCH MUCH more but rushed to market to beat Universal. Eisner did it fast vs good.
 

Sure... but your post insinuated that Staggs left because of Disney being some sinking ship or going to suffer a downturn and all evidence points to the contrary. Staggs left cause they wouldn't guarantee it. They wouldn't guarantee because of various potential reasons (enemies on the board, Shanghai overruns, Iger changing his mind, something else). In other words, Stagg quitting was like a general leaving the army because he got passed over for the 4th star. HE chose to the leave, but he was never going to get to where he wanted.


Didn't the report say it was a mutual decision? I think that was vague enough that nobody really know what happened.
 
God, this is so irritating! I'm trying to stay positive as I can and hope for a new and better CEO to come, but a lot of you are being so cynical and have trust issues that you guys keep passing judgement very quickly. I mean, Anne Sweeney is one thing, but I think people of wdwmagic are getting a bit too cynical about it. And just for that, I can't decide which person is a perfect CEO of Disney to make Disney better again. In fact, I'm on nobody side and I can't criticize people that I don't know about. So, I need to hear more information about them first before passing judgement. I'm sorry if I'm overacting, but I'm just nervous about this.
 
I don't think this has anything to do with the Panama Papers, but I guess I could be wrong. Isn't it a little bit precipitated to resign just hours after the big scandal has been revealed? Even Iceland's prime minister took longer before resigning. I assume Staggs stepping down had to be a very premeditated measure. Not to mention that he will remain Iger's adviser.
 
No he wont. That's just boilerplate corporate doublespeak.

Well, that's true... I assume that someone has to fill that space in the meantime, though. Iger will be around for a while and he has quite a lot of projects going on right now.
 
his contract is through the end of this fiscal year so he has to be paid until then or that was what was agreed upon with the board as part of his separation package. believe me he will walk away never having to work again. I am sure he got a very nice package
 
his contract is through the end of this fiscal year so he has to be paid until then or that was what was agreed upon with the board as part of his separation package. believe me he will walk away never having to work again. I am sure he got a very nice package

I imagine he was "escorted from the facility" less than 5 minutes after the decision was made.

That's Usually what happens to a "special advisor" of this nature. And then they jump out of a plane with their golden parachute
 
God, this is so irritating! I'm trying to stay positive as I can and hope for a new and better CEO to come, but a lot of you are being so cynical and have trust issues that you guys keep passing judgement very quickly. I mean, Anne Sweeney is one thing, but I think people of wdwmagic are getting a bit too cynical about it. And just for that, I can't decide which person is a perfect CEO of Disney to make Disney better again. In fact, I'm on nobody side and I can't criticize people that I don't know about. So, I need to hear more information about them first before passing judgement. I'm sorry if I'm overacting, but I'm just nervous about this.

Do you need a paper bag to breathe into? A glass of water?

Sorry to bring you down...but the skepticism is warranted. The reality is that Disney always functioned best with a non-Wharton creative type in control - with strong Lts handling the financing and corporate relations...

...but that is NOT how the business world works anymore. If we're lucky - we'll get a "tech" person and not just some glorified accountant...but even that is a hard road because tech people often fail badly when they try to branch out...
 
actually disney works best when the ceo and chairman are two separate jobs. like walt and roy. walt was the creative one and roy was the numbers guy. you need a creative person with ideas toward the future and also understand that not all divisions of your company will be on top all the time. you will always have a weekest link somewhere that is what diversity is all about.
 
actually disney works best when the ceo and chairman are two separate jobs. like walt and roy. walt was the creative one and roy was the numbers guy. you need a creative person with ideas toward the future and also understand that not all divisions of your company will be on top all the time. you will always have a weekest link somewhere that is what diversity is all about.

Yes...the more recent/applicable example being Eisner and frank wells.

The helicopter crash that killed wells did longterm damage to Disney...and the rumor always was he took the trip due to stress/burnout because he was dealing with euro full time and trying to correct early problems...

And here we are now
 
So what are the chances of the board extending Iger's contract once again? I'm sure he'd love to go out with a bang having Star Wars land under his belt, and from what I've read, it seems like the board is nervous with the idea of bringing an outsider with no preparation. Sure, it wouldn't be the first time that happens, but it just seems like the natural choice to extend Iger's contract and prepare a new candidate in the meantime.
 
So what are the chances of the board extending Iger's contract once again? I'm sure he'd love to go out with a bang having Star Wars land under his belt, and from what I've read, it seems like the board is nervous with the idea of bringing an outsider with no preparation. Sure, it wouldn't be the first time that happens, but it just seems like the natural choice to extend Iger's contract and prepare a new candidate in the meantime.
I saw a quote from Iger that he said he doesn't consider that an option right now.
 
So what are the chances of the board extending Iger's contract once again? I'm sure he'd love to go out with a bang having Star Wars land under his belt, and from what I've read, it seems like the board is nervous with the idea of bringing an outsider with no preparation. Sure, it wouldn't be the first time that happens, but it just seems like the natural choice to extend Iger's contract and prepare a new candidate in the meantime.

That was my first thought - Iger stays longer. In the few years after he's currently scheduled to "retire"....in addition to Star Wars land and the rest of the work at DHS, there's the 2 new cruise ships, a slate of Star Wars & Marvel movies already in the pipeline with tentative release dates through 2109, and WDW's 50th anniversary just to name a few things. I'm sure the board would love to extend him through 2021.


I saw a quote from Iger that he said he doesn't consider that an option right now.

"right now"...sounds like he's leaving his options open
 












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