Staggs resigns

[UpAllNight]

The risk is worth it.

Besides, the BoD clearly has demonstrated some common sense about them.

Let's hope so

 

[WDW1974]

I just noticed it's not Friday at 4:30, but Monday...what's up with that? Market won't be happy about this, right?

That is why TWDC didn't allow it released until the market closed. ... But Wall Street likes stability. And they know succession has been an issue with this company for decades. I don't see it reacting well.

 

[lazyboy97o]

Lasseter needs to be CEO

I get what you're saying but I feel like Lasseter really cares about the parks rather than the other CEOs

Lassiter can barely handle the workload he has and spent on his influence over Walt Disney Parks and Resorts on Cars Lands.

Wow. Most interesting thing to happen in a while. I don't know how I feel. Out of all of the scrooges in the company, I don't think Tom Staggs was the worst.

He was the head of Strategic Planning, that makes him the worst.

 

[HMF]

Lasseter needs to be CEO

We would need a Roy to balance Lasseter's Walt.

 

[IanDLBZF]

The risk is worth it.

Besides, the BoD clearly has demonstrated some common sense about them.

Let's only hope that Tom's successor can be a miracle to us and the parks, and not how good an approval rating of this successor will be!

 

[WDW1974]

Replacements gotta be Kennedy, right?

No. I think she is the only internal candidate that makes sense ... but the Board has been very adamant (or certain individuals) that the company needs new blood, despite its record profits, much like it did in 1984.

I think you need to look at today's news as the first wave of real significant CHANGE.

 

[UncleMike101]

Iger will almost assuredly leave. ... His replacement is almost assuredly going to be from outside the company. Fresh blood, which is so needed. Of course, we still have 27 months of Iger's destruction to go first. ... Unless ... well, I suppose if the BoD wanted someone very, VERY badly from outside they could likely buy Bob out.

IMO if the BoD wants a viable company in 27 months they'll take the necessary steps to remove their primary problem, Iger, and replace him with someone who actually knows how customer service can be utilized to make a company profitable in the long term as opposed to squeezing the current customers to get their last drop of blood in the name of short term gains.

 

[hopemax]

No. I think she is the only internal candidate that makes sense ... but the Board has been very adamant (or certain individuals) that the company needs new blood, despite its record profits, much like it did in 1984.

I think you need to look at today's news as the first wave of real significant CHANGE.

Do we know which Board members hold more power than others?

 

[No Name]

He was the head of Strategic Planning, that makes him the worst.

I know, totally. Clearly we saw the same amount of cuts and price increases in Staggs's first year that we've seen in Chappie's.

And @ParentsOf4 might have some numbers, but I believe capex now is not much different than it was in 2010/2011. So don't blame Shanghai. It is Chappie who has chosen to sqeeze every penny out of the US parks. By comparison, while Staggs is bad, he's not as bad.

 

[WDWLover#1]

Shocking news and a real surprise - it looked like he was the only a contender. But I think this is a good thing. He always looked to me as a proper business man - formal, little fun and creativity which is the opposit of what Dosney needs. Fresh new blood is a good thing imho.

 

[indyumd]

You could argue Kennedy is more valuable to the company over the next 5 years in her current role than she would be as CEO.

 

[WDW1974]

Hey Spirit, since you know so much...what should we be looking for next, amongst the tea leaves? Iger isn't going to be sticking around longer now, is he?

I need to ask around a bit. My gut, which is usually right (but full from a great grilled chicken salad at my favorite watering hole), says it is more likely that Bob doesn't fill out his contract either. ... But Disney (and, therefore, Bob) wants Tom to look bad here and I am wondering why that is. Shanghai fall guy? Next Gen fall guy? I just don't know enough and I want to nail this one.

I don't have press junkets or cupcake parties or 10 minutes talking to a celeb or Imagineer or exec with multiple handlers watching over riding on this. I just like to let the facts speak for themselves.

 

[Yellow Strap]

No. I think she is the only internal candidate that makes sense ... but the Board has been very adamant (or certain individuals) that the company needs new blood, despite its record profits, much like it did in 1984.

I think you need to look at today's news as the first wave of real significant CHANGE.

Agreed, but do you think Kennedy's Disney tenure has been short enough to be considered new blood? She has the perfect combination of creative/business acumen. Plus she is incredibly well respected.

 

[HMF]

Not funny.

As much as I despise Iger (and hold him partially responsible for ruining my life) That is a bit too far.

 

[Walt_Disney]

How do I apply to be CEO? I'll run the company the way Mr. Disney intended it to be run and I'll do a damn good job at it. I'll make a profit for Disney along with maintaining the parks the way they should be. I'll bring back the magic that the parks have lost over the years. And I'll make Disney a true innovator in entertainment and rides again. Just tell me how to sign up and I'll get the job done!

 

[HMF]

Now why is Staggs leaving so suddenly? Why was it even handed to Brooks Barnes and the NYT by Zenia herself? Why is TWDC making itself and Staggs (and Iger for his 'faith' in him) look so bad at such a key moment in Disney history?

Well, the part about the BoD not wanting him as the next head of the company is absolutely true. Something I told y'all years ago now. Something knowing a few well-placed analysts might just know. ... But Tom knew this as well ... and he still wasn't leaving that cushy office in Burbank, one that likely was completely cleaned out over the weekend or will be soon (he is staying on just like Rasulo did ... or any exec has ...)

A scapegoat for Disney's debacle, which is what it has been, in China? That certainly could have factored into it. Because you don't leave the company when you have a contract for the next 26 months and are making a beachhead in the Chinese Mainland in under 100 days.

But more shoes are going to drop. Again, believe it or don't. Doesn't change the facts ... it never does.

As to Tom ... buh-bye, don't let the door to your office hit you on the a$$ on the way out.

I can't wait to read Disney War Part 2.

 

[kagacins]

The only internal politics of which I am aware is based on reading these boards. It seems like this is good news, but regardless of whether the outcome is negative or positive, it makes me feel sad and aware of my mortality at only 33 years old right now. Sad because if Iger finishes his run, that is 2+ years away. Then you bring in a new person. 1+ years of a new CEO settling into a job and figuring out how to manage the politics. Then, what, 1-2 years of developing and getting approval for a master plan. Three year after that, you have the first major WDW development finished as a result of decisions made by the "new" CEO. Add it all up, we're 8 years from now, and I'm 41, past midpoint of the average male lifespan. Hopefully the new CEO's first WDW development is something related to actual time travel and/or longevity research...

 

[WDW1974]

Apparently being right makes you insufferable per #DisneyTwitter

Oh, I just love the fans. They have the collective maturity of a 12-year-old in a special program for at-risk youth for inability to control their impulses.

But I'd love to know one other person who was predicting that as the eventuality and explaining why in the fan community.

Nope. I kept being told he was the next head of Disney when I knew it would never be. And I like being right when it means a bad thing (and the "oddly waifish man of anemic personality" is most definitely a bad thing) leaves a sphere where he can influence the lives of friends who have the displeasure of being Part of The MAGIC of The Walt Disney Company.

 

[IowaHawks7]

This is really interesting news. New blood is needed. I could see Kennedy stepping in, but I really doubt that. As good as she is, the Company will need her at the helm of Lucasfilm over the coming years, much like they need Lasseter at Animation. Wonder if the new CEO will come from outside the Entertainment industry or not?

 

[WDW1974]

Wow, wishing death or massive health issues on him? I get not liking him or what he's done, but I'll chalk this up to hyperbole and move along I guess.

THAT is what you'd like to talk about today?!?! That's called a joke. May be poor taste, but I don't care. You shouldn't either.
I'd be more focused on the end game here than the fact I may have a sense of humor that doesn't mesh with your sensibilities.