Disney COO Tom Staggs Is Stepping Down
The plot thickens. The heir apparent to 65-year-old CEO Bob Iger announced that he’s leaving the company in September. Staggs’ contract wasn’t up until June 2018, and no reason was given for his decision. With Disney since 1990, he’s overseen the empire’s theme parks, cruises and the lion’s share of its employees. The firm says it’ll start to “broaden the scope” of its succession planning — big names like Sheryl Sandberg are already flying — but stocks tumbled in after-hours trading on news of the surprise departure.