Disney Names New COO, Hinting at CEO Succession Plans

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Posted at 4:15 AM, Feb 06, 2015
and last updated 2015-02-06 04:15:00-05

NEW YORK (AP) — The Walt Disney Co. on Thursday named Thomas Staggs as chief operating officer, an indication that the company might be setting up a successor for CEO Bob Iger.

The No. 2 role has been vacant since Iger, 63, took the top post in 2005.

Staggs, 54, has been with the entertainment and media company since 1990, most recently as head of the parks and resorts division of Disney. He has also been the company's chief financial officer.

He becomes COO immediately. He will keep leading the parks and resorts division until a successor is named.

Burbank, California-based Disney's senior management will now jointly report to CEO Iger and Staggs. However, the CFO, general counsel, chief communications officer and chief human resources office will report solely to Iger.