Multiple sources are now reporting that Tom Staggs, the current COO of The Walt Disney Company, will be resigning. Staggs had been viewed as the “heir apparent” to replace Bob Iger as CEO when he left. Now there are major questions about who will ultimately get that job.
In a statement, Iger said, “Tom has been a great friend and trusted colleague for more than 20 years. He’s made important contributions to this company, earning wide respect across the organization for his achievements and personal integrity. I’m proud of what we’ve accomplished together, immensely grateful for the privilege of working with him, and confident that he will be enormously successful in whatever opportunity he chooses.”
Staggs said, “Disney truly stands alone, not only because of the company’s phenomenal creativity, but also because of the thousands of remarkable people who make it such an extraordinary place. It’s been a privilege to work with them and be inspired by their creativity and commitment. It’s also been a great experience to work with Bob during this dynamic era of unprecedented growth and transformation. I remain grateful for that opportunity, and I’m confident that Disney’s future will be just as exciting as its legendary past.”
According to Disney’s Board of Directors, they will broaden the scope of their succession planning process to “identify and evaluate a robust slate of candidates for consideration.”
Staggs’ resignation will be effective on May 6th, though he will serve as a special advisor to Iger until the end of the fiscal year.