In recent company news, senior executive VP and chief financial officer of the Walt Disney Co., Jay Rasulo has not signed a contract for an extension of position, according to Variety. This announcement comes after the Securities and Exchange Commission proxy statement was filed on Friday by the company.
There could be many reasons for Rasulo for not resigning his contract. One of those being that in the Spring, the company plans to name a new chief operating officer. As a potential candidate, there are many things to look at. With that new position filled, that person will most likely become the new CEO, just in time for Iger’s retirement. Iger announced that he would be retiring in the year 2018.
The Variety article also goes on to say that Tom Staggs, Disney’s parks and resorts chief, is also a possible candidate for COO position.
As Rasulo’s contract comes to an end on January 31, 2015, it’s noted that he is the second highest-paid executive in the company, according to the proxy statement. He made $16 million during the 2013 fiscal year. Rasulo has been known for his work in helping the Disneyland Paris recapitalization, managing the Disney Citizenship group, corporate financial decisions, helping in the purchasing of Maker Studios and more.
Staggs on the other hand was the company’s chief financial officer for 12 years. “He played a key role in acquiring Capital Cities/ABC, Pixar and Marvel, during which he worked closely with Iger,” says Variety. Currently, he is working on the expansion of Animal Kingdom at the Walt Disney World Resort and the creation of Shanghai Disneyland.
So as to who will become the new COO, all is up in the air. Both appear to be great candidates and have been involved in so many beneficial concepts.
What do you think about all this?