Theme Parks Boss Tom Staggs Named Iger's No. 2 At Disney

(RTTNews) - Disney theme parks boss and resorts boss Tom Staggs has been promoted to chief operating officer, putting him in prime position to succeed chief executive officer Bob Iger in 2018.

"Tom is an incredibly experienced, talented and versatile executive who has led Parks and Resorts during a time of unprecedented growth and expansion, including the construction of Shanghai Disney Resort. His proven ability to lead a business as well as his successful tenure as Disney's former CFO make him an ideal Chief Operating Officer, expanding his portfolio into all the company's businesses," Iger said in announcing the promotion.

Staggs has had a spectacular run as Walt Disney Parks and Resort chairman, overseeing crucial projects such as the MagicBand waterproof RFID ticketing system at the Orlando parks.

Disneyland Paris was revitalized and is now a top performer for the company, and Disney Shaghai is expected to be a massive hit when it opens in 2016.

Revenue from parks and resorts rose 9 percent to $3.9 billion in the first quarter, helped by higher attendance and increased customer spending.