Thomas O. Staggs
Thomas O. Staggs
Staggs in 2014
|Born||1961 (age 57–58)|
|Alma mater||University of Minnesota, Twin Cities|
|Employer||The Walt Disney Company (1990-2016)|
|Term||February 5, 2015 – May 6, 2016|
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. Staggs became executive vice president and chief financial officer in 1998, and became Senior Executive Vice President and CFO in January 2000. 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.
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.
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. 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, 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.
Education and early career
Staggs was born in Illinois. He graduated from Minnetonka High School in 1978, 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.
|Wikimedia Commons has media related to Thomas O. Staggs.|
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