Thomas O. Staggs

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Thomas O. Staggs
Staggs on stage at the Disney Social Media Moms Conference
Staggs in 2014
Born 1961 (age 56–57)[1][2]
Nationality American
Alma mater University of Minnesota, Twin Cities
Stanford University
Employer The Walt Disney Company (1990-2016)
Title COO (February 5, 2015 – May 6, 2016)
Signature
Thomas O. Staggs signature.svg

Thomas O. Staggs (born 1961) is the former Chief Operating Officer (COO) of The Walt Disney Company.

Career[edit]

Joining Disney in 1990, Staggs rose from his role as a manager of strategic planning to senior vice president of strategic planning and development in 1995.[3] Staggs became executive vice president and chief financial officer in 1998, and became Senior Executive Vice President and CFO in January 2000.[4] As CFO, Staggs was instrumental in purchasing Pixar for $7.4 billion in 2006 as well as acquiring Marvel Entertainment for $4 billion in 2009.[5]

On January 1, 2010, Staggs became Chairman of Walt Disney Parks and Resorts, overseeing the company's theme parks, cruise lines, and the vacation-ownership program along with roughly 130,000 employees.[6]

On February 5, 2015, Staggs was named chief operating officer of The Walt Disney Company.[7] Many news outlets began calling Staggs the heir apparent to Bob Iger as the Disney CEO.[8][9][10]

On April 4, 2016, Disney announced that Staggs and the company had agreed to mutually part ways. Staggs stepped down as COO, effective May 6, 2016. Staggs remained with the company as a "Special Advisor to the CEO", Bob Iger, through the end of the fiscal year.[11][12][13][14][15] It was reported that Staggs failed to receive assurances from the board to succeed Iger, as the board decided instead to widen the executive search, while Iger also did not persuade Staggs to stay on. Iger's contract as Disney's Chairman and CEO was originally planned to run until June 30, 2018,[16][17] but Disney announced in March 2017 that it was extending Iger's term to July 2, 2019 and said he would serve as a consultant for the following three years.[18][19]

Education and early career[edit]

Staggs was born in Illinois. He graduated from Minnetonka High School in 1978,[20] and received a B.S. in business from the University of Minnesota and an MBA from the Stanford Graduate School of Business. He began his career as an investment banker for Morgan Stanley & Co. before joining Disney in 1990.[4]

References[edit]

  1. ^ Dun & Bradstreet (May 6, 2010). "Disney Enterprises, Inc. et al v. Hotfile Corp. et al - Exhibit B" (PDF). Justia. Retrieved November 9, 2013. 
  2. ^ "Eisner's Mousetrap Disney's CEO says the company has a lot of varied problems he can fix. But what if the real issue is something he can't face? - September 6, 1999". 
  3. ^ "Thomas Staggs Profile - Forbes.com". Archived from the original on May 27, 2007. 
  4. ^ a b "Tom Staggs Bio" (PDF). The Walt Disney Company. 
  5. ^ Barnes, Brooks (April 25, 2015). "Thomas Staggs: Disney's Heir, Apparently". nytimes.com. New York Times. Retrieved April 4, 2016. 
  6. ^ Hamedy, Saba (February 5, 2015). "5 things to know about Thomas Staggs, Disney's new No. 2 executive". latimes.com. Los Angeles Times. Retrieved April 4, 2016. 
  7. ^ Littleton, Cynthia. "Disney Promotes Tom Staggs to No. 2 Post, Positioning Him as Iger's Successor". Variety.com. Variety Magazine. Retrieved February 22, 2016. 
  8. ^ Miller, Daniel; James, Meg (February 5, 2015). "At Disney, Staggs' elevation puts him as front-runner to succeed Iger as CEO". latimes.com. Retrieved April 4, 2016. 
  9. ^ Cynthia Littleton. "Disney Promotes Tom Staggs to No. 2 Post, Positioning Him as Iger's Successor". Variety. 
  10. ^ Lev-Ram, Michal (February 5, 2015). "Will Tom Staggs be the next CEO of Disney?". Fortune. 
  11. ^ Barnes, Brooks (April 5, 2016). "Thomas Staggs, Disney's Heir Apparent, Is Stepping Down". The New York Times. 
  12. ^ Miller, Daniel (April 4, 2016). "Thomas Staggs, Disney's No. 2 executive, is leaving company". latimes.com. 
  13. ^ Byers, Dylan (April 4, 2016). "Disney's No. 2 exec Thomas Staggs leaving company". CNNMoney. 
  14. ^ Robehmed, Natalie (April 4, 2016). "Disney COO Thomas Staggs Steps Down From The Mouse House". Forbes. 
  15. ^ The Walt Disney Company (April 4, 2016). "Statement from The Walt Disney Company". 
  16. ^ Graser, Marc (October 2, 2014). "Bob Iger to Remain Disney Chief through 2018". Variety. Retrieved October 8, 2014. 
  17. ^ Fritz, Ben (October 2, 2014). "Disney Extends CEO Bob Iger's Contract Until 2018"Paid subscription required. The Wall Street Journal. Retrieved October 8, 2014. 
  18. ^ "Disney extends CEO Iger's contract by a year to July 2019". Reuters. March 23, 2017. Retrieved March 23, 2017. 
  19. ^ Kilday, Gregg. "Disney's Dilemma: Can Bob Iger Ever Find a Successor?". The Hollywood Reporter. 
  20. ^ "2012 Minnetonka Alumni Awardsm4v". YouTube. October 11, 2012.