Thomas Staggs, Disney’s Heir Apparent, Is Stepping Down

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Kristen K.'s picture
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Thomas Staggs, Disney’s Heir Apparent, Is Stepping Down

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

Whaaaaaaaaat!?! It would seem that according to the New York Times Tom Staggs (who was assumed to be the heir apparent of Bob Iger) is resigning and will be leaving the Company very soon. This news comes as somewhat of a shock and leaves no clear choice to replace Bob Iger when his contract extension comes to an end in 2018.

What do you think of this?

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I have lots of questions and no answers. I'm curious which side decided that it was time for Staggs to go. I read somewhere that it was a "mutual separation." That doesn't sound like a man who retired early to spend more time with his family or a man who was offered a better job elsewhere. Was it truly his decision? Was it because he's been opposed to some of the recent cuts? Or were others opposed to the number of cuts that he's been authorizing? Did he lose faith in the organization? Or did they lose faith in him? Did he object to the direction that the company has been going in recent years? Or was he the dissenting opinion?

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I read that he left because the board of directors would not give him assurances that he would succeed Iger.

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The Colonel wrote:
I read that he left because the board of directors would not give him assurances that he would succeed Iger.

That is exactly what I heard and read Colonel.

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MrHub wrote:
The Colonel wrote:
I read that he left because the board of directors would not give him assurances that he would succeed Iger.

That is exactly what I heard and read Colonel.

I read a lot of articles about this and my understanding is that is correct, and that the board had said that they would also be considering candidates for CEO from outside of the company.

However I think that opens if all up to Holly's "why" did this happen. I keep thinking of all the delays and budget overage in Shanghai, the delays and retooling of things at Animal Kingdom, all of the cuts and how much the guests are really starting to push back and raise their voices. It's been a rough 2016 so far. But on which side of the fence was Staggs? Was he fighting for the experience or championing the cuts? Is the board only looking out for the bottom line, or are they concerned with the falling quality of their product? It seem like once again the corporate politics are going to send the guest on a wild ride.

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I read somewhere that maybe Tom was the fall guy for Shanghai.

Kristen K.'s picture
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Mandy wrote:
I read somewhere that maybe Tom was the fall guy for Shanghai.

I'm sure - and probably the problems and delays with Disney Springs, and Animal Kingdom.