Photo by Disney

Tom Staggs, the Walt Disney Parks and Resort chairman, has been promoted to Disney’s Chief Operating Officer.  This position puts him in the heir-apparent position to Bob Iger, Disney’s Chief Executive Officer. Iger’s contract expires in 2018.

Bob Iger stated when announcing the promotion, “Tom is an incredibly experienced, talented and versatile executive who has led Parks and Resorts during a time of unprecedented growth and expansion, including the construction of Shanghai Disney Resort. His proven ability to lead a business as well as his successful tenure as Disney’s former CFO make him an ideal Chief Operating Officer, expanding his portfolio into all the company’s businesses.”

“It’s a privilege to step into this role, and I am humbled and honored by the opportunity.” Staggs said.  Staggs will continue to head the Parks and Resorts division for the time being until a successor is named.