The Walt Disney Company announced today that Jay Rasulo will be stepping down as CFO of the Company starting June 30, 2015. He will continue with the company as an adviser to Bob Iger. Jay Rasulo and Tom Staggs were the two leading candidates to replace Iger in 2018 as Chairman of the Walt Disney Company when he retires. But recently Staggs was promoted to COO, almost confirming him as a replacement for Iger, even though not officially announced.
Full press release below…
James A. Rasulo to Step Down as Chief Financial Officer of The Walt Disney Company
BURBANK, Calif.–(BUSINESS WIRE)–James A. Rasulo will step down as chief financial officer of The Walt Disney Company (NYSE: DIS) effective June 30, 2015, it was announced today by Robert A. Iger, Disney’s chairman and chief executive officer. Afterward, Mr. Rasulo will continue to serve in an advisory capacity to Mr. Iger and to assist in the transition.
“It has been a true honor to work at Disney for these many years, and for a great leader in Bob Iger”
“Jay has been a valued colleague and friend, as well as a vital contributor to Disney’s success, particularly in his roles as chief financial officer and chairman of our Parks and Resorts division,” Mr. Iger said. “I look forward to working with him in this new advisory role, where his strategic acumen and savvy insight will continue to benefit the company.”
“It has been a true honor to work at Disney for these many years, and for a great leader in Bob Iger,” Mr. Rasulo said. “And as I look to the horizon for future endeavors, I am privileged to continue my friendship with Bob and remain as an advisor to him and the Disney team.”
A new chief financial officer will be named at a later date.
As senior executive vice president and CFO, Mr. Rasulo has also been responsible for the operation of recently acquired Maker Studios. Prior to becoming CFO five years ago, he served as chairman, Walt Disney Parks and Resorts, where he oversaw the launch of a major expansion of Disney’s California Adventure, the opening of Hong Kong Disneyland, the addition of two new cruise ships to Disney Cruise Line, and initial development of the new Shanghai Disney Resort. Before leading Parks and Resorts, Mr. Rasulo was chairman and CEO of Euro Disney; he also served as senior vice president, Corporate Alliances and led Disney Regional Entertainment. Mr. Rasulo joined Disney in 1986 as director, Strategic Planning and Development.
Prior to Disney, Mr. Rasulo held positions with Chase Manhattan Bank and the Marriott Corporation. A native New Yorker, he has a degree in economics from Columbia University and both an M.A. in economics and an MBA from the University of Chicago.