| # | Author | Message |
1
| Disney and beyond
Thu 11/12/2009 10:57a | Wow.
Here comes another big time move by Disney. Jay Rasulo and CFO Tom Staggs are switching jobs. Here is one of the peices on it, but I've seen it reported on multiple websites.
http://www.deadline.com/hollyw...-to-cfo/
(I beleive the above site is also the one which broke the Disney-Dreamworks news.)
As always, since nothing has been confirmed by Disney themselves, but this would be a shocker to me if it happens.
Would this change anything about the parks in your opinion? Will we see better or worse results if this goes down? |
2
| Jim in Merced CA
Thu 11/12/2009 11:00a | I think Rasulo might be a better CFO than a Theme Park head. |
3
| LindsayC
Thu 11/12/2009 11:06a | Iger is quoted on Reuters (as well as other sites), so I guess it is confirmed.
http://www.reuters.com/article...20091112
Iger said in a statement the management swap gives Rasulo and Staggs "exciting new challenges that build on both their strengths at a time when each of their respective areas are on the right strategic track."
"The change is good for them and good for the company," Iger said. |
4
| vbdad55
Thu 11/12/2009 11:29a | I don't know enough about Staggs to decide if this is good - or just stupid. Does Rasulo have a financial background ? |
5
| vbdad55
Thu 11/12/2009 11:31a | RASULO:
A native New Yorker, Jay has a degree in economics from Columbia, and both an MA in economics and an MBA from the University of Chicago. Before joining Disney, he held positions with Chase Manhattan Bank and the Marriott Corporation.
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6
| vbdad55
Thu 11/12/2009 11:32a | STAGGS:
Staggs joined Disney in 1990 as a 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. He was appointed executive vice president and chief financial officer in 1998, and assumed his current title in January, 2000.
He played an important role in a wide variety of Disney's strategic and operating initiatives and various Disney strategic joint ventures and corporate transactions, including the acquisitions of Capital Cities/ABC and Pixar. Staggs spearheaded Disney's realignment of its performance goals towards the combination of profit growth and strong long term capital returns and free cash flow. He also led the Company's efforts to drive greater cost and capital efficiency throughout the organization.
Staggs was recently named one of America's best CFOs and the top CFO in the Entertainment Industry by Institutional Investor Magazine.
Born in Illinois, Staggs received a B.S. degree in business from the University of Minnesota and an MBA from the Stanford Graduate School of Business. He worked in investment banking with Morgan Stanley & Co. before joining Disney.
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7
| vbdad55
Thu 11/12/2009 11:33a | while Rassulo may be a CFO fit- I ee ntohing in Staggs background even remotely creative - so I am not sure what strngths Iger sees for evaluating theme park needs |
8
| DlandDug
Thu 11/12/2009 11:40a | Here it is in the LA Times:
http://latimesblogs.latimes.co...obs.html
EXCERPT:
>>Tom Staggs, the highly regarded chief financial officer of Walt Disney Co. and close associate to Disney CEO Bob Iger, is trading places with Jay Rasulo, the head of Disney's parks and resorts business.
Potentially positioning Staggs for his long-coveted role as president of the Walt Disney Co., the new job gives him the operational experience that he has lacked.<< |
9
| CMDad
Thu 11/12/2009 12:20p | It scares me that a strictly financial person is being put in charge of Parks & Resorts.
More focus on the bottom line at the expense of creativity? |
10
| leobloom
Thu 11/12/2009 12:46p | More of the same, please. Thank you, St. Iger, patron saint of squeezing every red cent out of the customer while constantly lowering quality. |
