Disney Announces Executive Changes

[DVCNews]

The Walt Disney Company has announced that Thomas O. Staggs, Senior Executive Vice President and Disney's Chief Financial Officer and James A. Rasulo, Chairman of Disney Parks and Resorts will swap positions at the end of next year.* Under this new arrangement Disney Vacation Club President Jim Lewis will ultimately report to Staggs as Chairman of Parks and Resorts.

Original Article (http://dvcnews.com/index.php?option=com_content&view=article&id=1109&Itemid=1)

[DisneyGeek]

Wonder if Jim (and thus all of DVC) getting a new boss will lead to any changes for us in the short term...

[TimK]

I'm usually pretty good at seeing through (dismissing) corporate double-talk but this quote from Iger irks me a bit:

"By giving them 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."

So he basically said that their current areas are doing well but the move will be "good for them." Nice job of making TWDC seem like a big game of SimCareer rather than a multi-billion dollar corporation. :blech:

I'm not a big fan of Rasulo's so this may have some upside to it. Rasulo seems to be at the heart of most penny-pinching mandates in the parks. Perhaps getting some new blood in there will be a good thing. But with his CFO background, I'm not sure that Staggs is necessarily going to buy into the fan-driven theory that Disney needs to be offering guests "more" (more hours, more attractions, more perks) in order to reap the long-term rewards.

[mwehttam]

I agree with Tim. Moving Rasulo out of Parks is very very good. He had zero interests in them. You can probably count on one hand the number of times he ha visited over the last few years. Go read some of the articles on MiceAge to see how the CM's have little it any respect for the man.

However, I am NOT put at ease with a finance guy taking over Parks. It was number crunchers in the 90's that almost destroyed the company. Make Lasseter in charge of the parks (though I bet he wouldn't want that job).

[DisneyGeek]

However, I am put at ease with a finance guy taking over Parks. It was number crunchers in the 90's that almost destroyed the company.

Wait, aren't those two sentences contradicting each other, or am I misreading something or possibly missing a joke? :confused24: (Been a long day over here...)

[worldfanatic]

Rasulo's out. I'm happy. :thumbsup2:
He seemed to like running the parks from a distance.

We'll see what Staggs can do. :confused24:
A finance background doesn't necessarily mean he'll only be focused on the bottom line.

I'm hoping he'll visit the parks frequently, seeing first hand what makes them Magical. :mickey::minnie::pinocchio2::donald::snowwhite3:

[mwehttam]

Wait, aren't those two sentences contradicting each other, or am I misreading something or possibly missing a joke? :confused24: (Been a long day over here...)


Thanks! You are correct. :oweye: I have gone and fixed. Long day over here too.:silly:

[TimK]

It's a new morning and I'm still hopeful regarding this change. :D

The question I keep asking myself is whether things could get any WORSE under Staggs and I'm inclined to think not. The parks aren't Six Flags quality but the constant cutting is pretty easy to track. Hopefully Staggs will adopt a different philosophy toward things like attraction development (which has languished at WDW recently) and dining.

It's good to put this 2009 Fiscal Year behind us. These downturns are never easy. In many ways I can relate to the cuts that Disney made in the parks. Investors are big on year-to-year comparisons and it's hard to swallow a 50% decline in profitability if you can "cut" your way to just a 25% decline.

Going forward hopefully they will focus on comparing 2010 to 2009 and the numbers will look a bit more favorable. And that can hopefully pave the way to greater investment in the parks.