Staggs promoted to COO

Nubs70

Nubs70

Well-Known Member
Vegas Disney Fan said:
I'm not overly familiar with Staggs but am basing my assumption on his BS in Business, his MBA, and the fact he was the CFO of Disney, you would think someone with those qualifications would know a thing or 2 about finances.
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Not necessarily, while conversant in finance, the concentrations of his BS and MBA may be a specialty other than finance. MBA's other than Finance concentration have 6 hours of finance classes out of 36 total credit hours.
 
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CentralFLlife

CentralFLlife

Well-Known Member
lazyboy97o said:
He wanted Jay Rasulo's then job, head of Walt Disney Parks and Resorts, and Disney chose Rasulo instead.
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Yeah I could see that causing some ill will. Perhaps time and some $$$$ could heal all wounds in this case. His salary is quite low, by TWDC standards anyway, they could double his compensation and he would still be making less than what Staggs was making as head of P&R. But Im not sure if money could solve that
 
Vegas Disney Fan

Vegas Disney Fan

Well-Known Member
epcotWSC said:
At the end of the day we live in a time where executives are afraid of Wall Street. Where if they don't post positive revenue and profit growth every quarter the market will pile on them. At the same time, the market always requires growth. If a company is making money hand over fist, but is stagnant, that's bad too. This all causes companies to do stuff like waste tons of money buying back stock to increase EPS, cutting costs like crazy to get profits up, among other things. Need to make the investors happy.

The idea of an established company spending tons of money (increasing costs thus decreasing profit) in order to realize some future growth is not acceptable to the shortsightedness of the stock market.

Personally, unless someone absolutely amazing comes in, I doubt much changes.
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I love and hate how accurate this post is. Short term profits is the core of almost all modern corporations, executives are so laser focused on keeping their jobs and their bonuses they only care about the next year or 2 rather than worrying about the next 10 or 20 years. It's not enough to be incredibly profitable, you have to outperform expectations or your head is on the chopping block. It's great for shareholders but terrible for the businesses long term health and success.

lazyboy97o said:
Roy O. thought it the role of the finance guys to fund the creative work. That is not what Strategic Planning was about. That is not the role Disney's leadership sees itself in.
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That makes sense. I'm not sure Roy O's job is something that really exist anymore though, at least not in the way that a private company ran by 2 brothers could sit down and leverage a company for the future. Disney teetered on bankruptcy a couple times and even risked the entire studio on Disneyland, I don't think any finance guy would allow that to happen in a modern corporation.
 
W

willtravel

Well-Known Member
I will be curious to see what happens to Disney stocks when Iger steps down. Iger has a track record for making money for the shareholders. Shareholders are happy with him.
 
IowaHawks7

IowaHawks7

Well-Known Member
I know this may be blasphemous but im assuming this Matt Ouimet guy was really good for the Parks before he left? If someone could give me some more info on him that would be great.
 
Progress.City

Progress.City

Well-Known Member
fngoofy said:
Hey now, as I remember, it was Tom that made sure we got a coaster instead of Princess overload in the New Fantasyland.
The interviews I've seen with him seem to show he's a relatively regular guy, with kids, who like to go to the parks.
I'll take a COO (eventual CEO) that has made solid theme park operational decisions over a Hollywood deal maker or a cost cutting bean counter any day of the week.
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But Eisner was that outsider from Hollywood and look what he did (before he was seduced to the Dark Side of the Farce).
 
Matt_Black

Matt_Black

Well-Known Member
Progress.City said:
But Eisner was that outsider from Hollywood and look what he did (before he was seduced to the Dark Side of the Farce).
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With Eisner, I think his big strength was that he had an eye for creative talents that would mesh well in the parks. After all, when Tony Baxter pitched Star Tours, Eisner was a strong supporter of it, and look where that eventually led.
 
PhotoDave219

PhotoDave219

Well-Known Member
Next Big Thing said:
Creative people are better off left to do creative things... not having to worry about financial aspects of parts of the company that they don't care about.
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That's true however..... There hasn't been a creative person not a theme parks operation person anywhere near the top of this company in years.

Those voices are most hears and are marginalized, leaving us with the stale parks we have now.
 

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