At Disney, It Aint Tom Staggs Afterall

As it Turns Out, Disney COO Tom Staggs Wasn't Heir Material

Here we go again. For one year everyone thought leadership succession at Disney was in place after parks chief Tom Staggs was promoted to COO. But late yesterday that was blown to bits when news broke that Mr. Staggs was exiting the company. Staggs was one of two top lieutenants under CEO Bob Iger who campaigned for the number two spot. Staggs won last year, forcing out CFO James A. Rasulo. Since landing the number two spot however, Mr. Staggs didn't win major support from the company's board to takeover in 2018 when Mr. Iger leaves. In fact, some powerful board members weren't fans of Mr. Stagg and even questioned his judgement. Bob Iger has set the bar high for Disney's next CEO because he whipped Disney into the best shape of its life.

Left with no guidance from Disney, Hollywood instantly began to guess about potential candidates on Monday, with a member of Disney’s board, the Facebook executive Sheryl Sandberg, frequently mentioned. In a statement, Disney said the board “will broaden the scope of its succession planning process to identify and evaluate a robust slate of candidates for consideration.” So far, Mr. Iger has not indicated a desire to extend his contract again.

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