It appears the speculation is over. Check out this article from the New York Times (September 29):
Disney Selects a Chief for Its Theme Parks and Resorts
By LAURA M. HOLSON
OS ANGELES, Sept. 29 — The Walt Disney Company announced today that James A. Rasulo, the chief executive of Euro Disney, is being promoted to president of Walt Disney Parks and Resorts worldwide.
Mr. Rasulo, who has been with Disney for 17 years, will succeed Paul Pressler, who left last week to become chief executive of the Gap. Mr. Pressler's departure left Disney executives scrambling to fill his post.
Mr. Rasulo, who has been in France since 1998 and who friends and colleagues say was interested in returning to the United States, was one of several Disney executives considered for the post.
Mr. Rasulo, 46, will have his work cut out for him. Disney's theme park division has been ailing as a result of the downturn in the economy and the Sept. 11 terrorist attacks. Analysts say it is uncertain when the business will turn around.
The theme park division makes up about 40 percent of Disney's operating income and until attendance picks up, analysts say the company's stock will remain depressed. Disney's shares have been trading near 12-month lows, not only because of the downturn at the parks, but because of troubles at its ABC network, which last year suffered a steep decline in viewership.
As part of Mr. Rasulo's new responsibilities, he will also oversee the Disney Cruise Line, Disney Regional Entertainment and Anaheim Sports, which manages the Anaheim Angels baseball team and the Mighty Ducks, the hockey team. Just last week Disney announced it had hired an investment bank to help sell its sports teams.
Mr. Rasulo will also be in charge of international expansion, including the building of Hong Kong Disneyland, expected to open by 2006.
Mr. Rasulo, a New York native who attended Columbia and has master's degrees in economics and in business administration from the University of Chicago, joined Disney in 1986. He initially managed the company's real estate businesses. He also spent three years with Disney Regional Entertainment, where he was part of the development of ESPN Zone and the ill-fated Club Disney, a series of clubs built specifically for families, later abandoned as a strategy.
In 1998 he moved to Paris to become executive vice president for Euro Disney, and he was named chief executive two years later. "I was not aggressively planning to come to the United States in the short term or the long term," Mr. Rasulo said. Still, he added, "Most people find themselves coming back."
The chief executive of Disney, Michael D. Eisner, said, "His vision and extensive experience in the international arena will be invaluable as we continue to grow the business globally."
Ten years ago, when the Disneyland Resort Paris in Marne-la-Vallée, France, opened, Europeans derided the park, saying it was too American and an affront to French culture. But in recent years the resort has gained acceptance.
Last spring Mr. Rasulo oversaw the opening of the $538 million Walt Disney Studios, the newest addition to the Disneyland resort outside Paris. There, he said, he learned it was important to listen to what attendees wanted and he added parades to attract more visitors.
He said that it was not enough for people to be aware that a new park was opening.
Mr. Rasulo's European experience should be helpful at Disney California Adventure, Disney's new park in Anaheim, which has been criticized for being too commercial and not providing enough rides for young visitors.
"Compared to other new jobs, I come with a lot more information," Mr. Rasulo said. Next weekend the park is set to open "A Bug's Land," an attraction based on the Disney film, "A Bug's Life." At a Disney board meeting last week, Mr. Eisner and his management team presented other ideas to expand the park's business.
Disney, for one, has been trying to more effectively cross-promote ideas among the different divisions. This summer, the company released a movie based on its Country Bears' theme park attraction. That movie mustered little interest at the box office, but the studio is developing other projects, including a movie produced by Jerry Bruckheimer based on the Pirates of the Caribbean ride. The film is scheduled to be released next year.
Disney Selects a Chief for Its Theme Parks and Resorts
By LAURA M. HOLSON
OS ANGELES, Sept. 29 — The Walt Disney Company announced today that James A. Rasulo, the chief executive of Euro Disney, is being promoted to president of Walt Disney Parks and Resorts worldwide.
Mr. Rasulo, who has been with Disney for 17 years, will succeed Paul Pressler, who left last week to become chief executive of the Gap. Mr. Pressler's departure left Disney executives scrambling to fill his post.
Mr. Rasulo, who has been in France since 1998 and who friends and colleagues say was interested in returning to the United States, was one of several Disney executives considered for the post.
Mr. Rasulo, 46, will have his work cut out for him. Disney's theme park division has been ailing as a result of the downturn in the economy and the Sept. 11 terrorist attacks. Analysts say it is uncertain when the business will turn around.
The theme park division makes up about 40 percent of Disney's operating income and until attendance picks up, analysts say the company's stock will remain depressed. Disney's shares have been trading near 12-month lows, not only because of the downturn at the parks, but because of troubles at its ABC network, which last year suffered a steep decline in viewership.
As part of Mr. Rasulo's new responsibilities, he will also oversee the Disney Cruise Line, Disney Regional Entertainment and Anaheim Sports, which manages the Anaheim Angels baseball team and the Mighty Ducks, the hockey team. Just last week Disney announced it had hired an investment bank to help sell its sports teams.
Mr. Rasulo will also be in charge of international expansion, including the building of Hong Kong Disneyland, expected to open by 2006.
Mr. Rasulo, a New York native who attended Columbia and has master's degrees in economics and in business administration from the University of Chicago, joined Disney in 1986. He initially managed the company's real estate businesses. He also spent three years with Disney Regional Entertainment, where he was part of the development of ESPN Zone and the ill-fated Club Disney, a series of clubs built specifically for families, later abandoned as a strategy.
In 1998 he moved to Paris to become executive vice president for Euro Disney, and he was named chief executive two years later. "I was not aggressively planning to come to the United States in the short term or the long term," Mr. Rasulo said. Still, he added, "Most people find themselves coming back."
The chief executive of Disney, Michael D. Eisner, said, "His vision and extensive experience in the international arena will be invaluable as we continue to grow the business globally."
Ten years ago, when the Disneyland Resort Paris in Marne-la-Vallée, France, opened, Europeans derided the park, saying it was too American and an affront to French culture. But in recent years the resort has gained acceptance.
Last spring Mr. Rasulo oversaw the opening of the $538 million Walt Disney Studios, the newest addition to the Disneyland resort outside Paris. There, he said, he learned it was important to listen to what attendees wanted and he added parades to attract more visitors.
He said that it was not enough for people to be aware that a new park was opening.
Mr. Rasulo's European experience should be helpful at Disney California Adventure, Disney's new park in Anaheim, which has been criticized for being too commercial and not providing enough rides for young visitors.
"Compared to other new jobs, I come with a lot more information," Mr. Rasulo said. Next weekend the park is set to open "A Bug's Land," an attraction based on the Disney film, "A Bug's Life." At a Disney board meeting last week, Mr. Eisner and his management team presented other ideas to expand the park's business.
Disney, for one, has been trying to more effectively cross-promote ideas among the different divisions. This summer, the company released a movie based on its Country Bears' theme park attraction. That movie mustered little interest at the box office, but the studio is developing other projects, including a movie produced by Jerry Bruckheimer based on the Pirates of the Caribbean ride. The film is scheduled to be released next year.
