BradyBzLyn...Mo 2,023 Posted April 4, 2016 Report Share Posted April 4, 2016 From the NY Times... Quote Thomas Staggs, Disney’s Heir Apparent, Is Said to Be Stepping Down Thomas Staggs, right, at a Disneyland Paris event in 2014, with Robert A. Iger, Disney’s chief executive, center. Eric Feferberg / Agence France-Presse — Getty Images By BROOKS BARNES April 4, 2016 LOS ANGELES — Thomas O. Staggs, the favored contender to lead Disney after Robert A. Iger’s retirement, is making a surprise exit from the company, throwing succession into disorder. His departure will also be an internal distraction as Disney prepares to unveil Shanghai Disneyland, a crucial project that Mr. Staggs had helped guide. The exit of Mr. Staggs, who became the Walt Disney Company’s No. 2 executive last year, beating out another candidate, was described on Monday by two people with knowledge of the matter, who spoke on the condition of anonymity. Disney declined to comment. Mr. Staggs, according to these people, will step down as Disney’s chief operating officer early next month. Over the last year, as Mr. Staggs came under intense scrutiny by Disney’s board, it became clear that at least some board members were not convinced that Mr. Staggs, 55, had the skills required to maintain Disney’s creative momentum, these people said. Mr. Staggs and Disney mutually decided to part ways. Disney has tended to choose chief executives from within, but the board may now look outside for a successor to Mr. Iger, who has led Disney to record-breaking results. Last year, when Mr. Staggs was elevated to chief operating officer from theme park chairman, Disney insisted that it was not a coronation. The company acknowledged, however, that the promotion made Mr. Staggs Mr. Iger’s handpicked heir, pending the board’s approval. Mr. Iger said in 2014 that he would step down as chief executive and chairman in June 2018, a two-year extension from a previously announced retirement. Disney has a history of bumpy transitions of power. When Michael D. Eisner turned over control to Mr. Iger in 2005, the changeover became an example of what not to do. It got so bad that Roy E. Disney, the nephew of Walt Disney, used the lack of succession planning in a public attack on Mr. Eisner. A decade earlier, Disney endured a lesser degree of succession strife with Jeffrey Katzenberg, who resigned as chairman of Walt Disney Studios after Mr. Eisner refused to promote him to president of the broader company. There was also an ill-fated run by Michael S. Ovitz as president of the entertainment conglomerate. In many ways, choosing a successor for Mr. Iger is a near-impossible task. Under his leadership, Disney has made a number of transformative acquisitions, including buying Marvel Entertainment, Lucasfilm and Pixar Animation Studios. Last year, Disney had $8.4 billion in profit, a 12 percent increase from the year before. http://mobile.nytimes.com/2016/04/05/business/media/thomas-staggs-walt-disney-company.html?_r=1&referer=http%3A%2F%2Fm.facebook.com Quote Link to post Share on other sites
caveat lector 181 Posted April 4, 2016 Report Share Posted April 4, 2016 Very interesting Mo. I'm a bit surprised, but whoever follows will have their hands full. The earnings anchor at ESPN will be tough to overcome. I'll just be glad ifor the successors name doesn't start with "E" and end in "isner". Quote Link to post Share on other sites
BigTom 76 Posted April 5, 2016 Report Share Posted April 5, 2016 Didn't one of TCD's twins want this a top job at Disney? Here is her chance to start at top. Quote Link to post Share on other sites
keith_h 420 Posted April 18, 2016 Report Share Posted April 18, 2016 There's an article today on Bloomberg about the results of Staggs departure. http://www.bloomberg.com/news/articles/2016-04-18/in-disney-shakeup-cost-cutters-gaining-clout-in-post-staggs-era BradyBzLyn...Mo 1 Quote Link to post Share on other sites
Travisma 1,317 Posted April 18, 2016 Report Share Posted April 18, 2016 I guess this is the guy that's been raising prices... Contrast that approach with Chapek, a 20-year Disney veteran who replaced Staggs as leader of the parks division in February of last year and has ushered in a series of pricing changes at Disney’s U.S. theme parks. Going to Disneyland during the busiest times of the year now costs as much as 20 percent more. People can now pay up to $35 a day to park closer to entrances at Walt Disney World. A $69 premium gets a patron in 75 minutes before others, and Disney throws in breakfast. “This combination of surge pricing, after-hours parties, preferred parking -- all of it coming in just a six-week window -- this is not how Disney typically does business,” said Jim Hill, a blogger in New Hampshire who has written about Disney for about 30 years. djsamuel 1 Quote Link to post Share on other sites
djsamuel 322 Posted April 18, 2016 Report Share Posted April 18, 2016 Just now, Travisma said: I guess this is the guy that's been raising prices... Contrast that approach with Chapek, a 20-year Disney veteran who replaced Staggs as leader of the parks division in February of last year and has ushered in a series of pricing changes at Disney’s U.S. theme parks. Going to Disneyland during the busiest times of the year now costs as much as 20 percent more. People can now pay up to $35 a day to park closer to entrances at Walt Disney World. A $69 premium gets a patron in 75 minutes before others, and Disney throws in breakfast. “This combination of surge pricing, after-hours parties, preferred parking -- all of it coming in just a six-week window -- this is not how Disney typically does business,” said Jim Hill, a blogger in New Hampshire who has written about Disney for about 30 years. I was thinking the same thing. Hopefully, this type of thinking won't make it's way to the top position. If it does, I feel it will be short lived as the impacts will start to take a toll. Quote Link to post Share on other sites
Travisma 1,317 Posted April 18, 2016 Report Share Posted April 18, 2016 8 minutes ago, djsamuel said: I was thinking the same thing. Hopefully, this type of thinking won't make it's way to the top position. If it does, I feel it will be short lived as the impacts will start to take a toll. Like every other business model out there now a days, prices will keep going up until buyers decide its too much and stay away, switch brands, or do without. Obviously with the record attendances WDW is having, it hasn't gotten too expensive for the majority of the population. djsamuel 1 Quote Link to post Share on other sites
djsamuel 322 Posted April 18, 2016 Report Share Posted April 18, 2016 Just now, Travisma said: Like every other business model out there now a days, prices will keep going up until buyers decide its too much and stay away, switch brands, or do without. Obviously with the record attendances WDW is having, it hasn't gotten too expensive for the majority of the population. Agree 100%. however, I feel (hope) that they are reaching that point. If Disney reaching that point coincides with a change of positions in upper level management, it may not reflect well on those who take over. At least that is my hope. :) Quote Link to post Share on other sites
keith_h 420 Posted April 18, 2016 Report Share Posted April 18, 2016 (edited) 13 minutes ago, Travisma said: Like every other business model out there now a days, prices will keep going up until buyers decide its too much and stay away, switch brands, or do without. Obviously with the record attendances WDW is having, it hasn't gotten too expensive for the majority of the population. Keep in mind though that the majority of the folks that go to WDW are not regulars. They go once and if they go again it will be years later so price increases aren't as visible nor have the impact as they do to many here on the board that are regulars. While the changes going on at Disney aren't the things they have historically done they are really not that different from many large American companies. The short sighted nature of today's boards and shareholders means cutting to profitability is more important than doing double that if you wait 5-10 years out. There is also the firm belief in milking cash cows as opposed to innovating new products as again it caters to the near term where new products are potentially years away. Edited April 18, 2016 by keith_h Added more thoughts djsamuel 1 Quote Link to post Share on other sites
Travisma 1,317 Posted April 18, 2016 Report Share Posted April 18, 2016 25 minutes ago, keith_h said: Keep in mind though that the majority of the folks that go to WDW are not regulars. They go once and if they go again it will be years later so price increases aren't as visible nor have the impact as they do to many here on the board that are regulars. While the changes going on at Disney aren't the things they have historically done they are really not that different from many large American companies. The short sighted nature of today's boards and shareholders means cutting to profitability is more important than doing double that if you wait 5-10 years out. There is also the firm belief in milking cash cows as opposed to innovating new products as again it caters to the near term where new products are potentially years away. Agree with everything you say, but the regulars are the ones that keep Disney churning away. Sure the hoards that come once every 5 or 10 years probably drop a bundle of $$$, but the regulars keep the cash flow steady between summer vacation and Christmas/Easter breaks. They need to expand the parks to accommodate the guests, but instead they are trying to manage crowds by making it too expensive to come. Quote Link to post Share on other sites
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