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Walt Disney Company Announces Executive Changes

In line with The Walt Disney Company's goals of advancing its global businesses and brands while providing new opportunities and challenges to executives, Disney President and Chief Executive Officer Robert Iger announced that two of the company's most senior leaders would assume new roles at the end of the year. Thomas Staggs, senior executive vice president, Disney's chief financial officer and 20-year Disney veteran, will become chairman of Walt Disney Parks and Resorts. In his new position, Staggs will preside over the company's vacation businesses, which span three continents and include five world-class destinations, a top-rated cruise line and the most popular resort locations in North America, Europe and Asia. James Rasulo, chairman of Disney Parks and Resorts and a 23-year Disney veteran, will become senior executive vice president and Disney's chief financial officer. In his new role, Rasulo will oversee the company's worldwide finance organization, corporate strategy and development, brand management, corporate alliances, investor relations, treasury and risk management activities, controller functions, information systems, corporate responsibility, real estate and taxes. Both will remain members of the senior management group reporting to Iger.

Both Rasulo and Staggs are long-time Disney executives and both serve on the board of Euro Disney S.C.A., the French parent company of Disneyland Paris. Rasulo joined Disney in 1986 as director, strategic planning and development, advancing to more senior positions there, and later became senior vice president, corporate alliances. He then led Disney Regional Entertainment before moving to Paris as president, Euro Disney before eventually becoming its chairman and CEO in 2000. Staggs joined Disney in 1990 as manager of strategic planning and soon advanced through a series of positions of increased responsibility, becoming senior vice president of strategic planning and development in 1995 before becoming CFO and executive vice president in 1998. For more information on The Walt Disney Company, visit www.disneytravelagents.com.