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Thomas O. Staggs

January 07, 2023

For people with a similar name, see Tom Stagg (disambiguation).

Thomas Owen Staggs[3] (born 1961) is an American business executive and investor. He formerly worked at Disney for nearly 27 years, beginning in 1990, serving as chief operating officer (COO) and chief financial officer (CFO) of The Walt Disney Company and as chairman of Walt Disney Parks and Resorts Worldwide. He holds directorships on various company boards, including Spotify.

Tom Staggs
Staggs in 2014
Former COO of The Walt Disney Company
In office
5 February 2015 (2015-02-05) – 6 May 2016 (2016-05-06)
Preceded byBob Iger
Former CFO of The Walt Disney Company
In office
1998 (1998)–2010 (2010)
Preceded byRichard Nanula
Succeeded byJay Rasulo
Former Chairman of Disney Parks, Experiences and Products
In office
1 January 2010 (2010-01-01) – 5 February 2015 (2015-02-05)
Succeeded byBob Chapek
Personal details
Born1961 (age 61–62)[1][2]
NationalityAmerican
Alma materUniversity of Minnesota (BS)
Stanford University (MBA)
Signature

Education and early life

Staggs was born in Illinois. He graduated from Minnetonka High School in 1978,[4] and received a B.S. in business from the University of Minnesota and an MBA from the Stanford Graduate School of Business.[5]

Career

Staggs began his career as an investment banker for Dain Bosworth,[6] then Morgan Stanley before joining Disney in 1990.[3]

Disney

After joining Disney in 1990, Staggs rose from his role as a manager of strategic planning to senior vice president of strategic planning and development in 1995.[7] Staggs became executive vice president and chief financial officer in 1998, and became Senior Executive Vice President and CFO in January 2000.[5] As CFO, Staggs was instrumental in purchasing Pixar for $7.4 billion in 2006 as well as acquiring Marvel Entertainment for $4 billion in 2009.[3]

On January 1, 2010, Staggs became Chairman of Walt Disney Parks and Resorts, where he "more than doubled operating profits, to $2.66 billion",[3] while overseeing the company's roughly 140,000 cast members,[8][9] theme parks, two cruise lines, and hotel and resort businesses.[10] Staggs led the development of the MyMagic plus technology suite.[11] and the creation of an Avatar theme land in Disney's Animal Kingdom park.[12] Disney CEO Bob Iger credited Staggs with leading "unprecedented growth and expansion, including the construction of Shanghai Disney",[13][14] its $5.5 billion resort.[15]

On February 5, 2015, Staggs was named chief operating officer of The Walt Disney Company.[16][17] Despite "Disney’s rocky history of succession",[3] Staggs was then widely reported as heir apparent to Bob Iger as the Disney CEO.[18][19][20]

On April 4, 2016, Disney announced that Staggs and the company had agreed to mutually part ways. Staggs stepped down as COO, effective May 6, 2016, remaining with the company as a "Special Advisor to the CEO" Bob Iger through the end of the fiscal year.[21][22][23][24][25] Iger extended his contract as Disney's chairman and CEO to remain chairman through 2021.[26][27][28][29] Following his departure from Disney, and prior to its August 2019 merger with Viacom, Staggs was in consideration to succeed Les Moonves as CEO of CBS.[30]

Forest Road

In October 2020, Staggs helped form special-purpose acquisition company (SPAC) Forest Road Acquisition Corp as a director, teaming with former Disney colleague Kevin Mayer,[31] and the Forest Road Company (FRC), of which he is an original investor and advisory board member. Other board members and advisors of Forest Road Acquisition Corp include FRC founder Zachary Tarica, Shaquille O'Neal, Mark Burg and Martin Luther King III.[32][33] FRC is a "full-service provider" to the independent film industry, loaning funds against state film tax credits.[34] FRC began public trading on November 25, 2020 (NYSE:FRX),[35] and was reported that month to have raised more than $US300 million, and to have funded and brokered over 150 film and TV projects through state motion picture tax credits.[34]

In February 2021, an agreement for a three-way merger between Forest Road Acquisition Corp, Myx Fitness Holdings and Beachbody was entered into, which values the new business combination at $US2.9 billion.[36][37] On February 18, 2021, Forest Road Acquisition Corp II filed for an IPO, with Staggs as co-founder, raising $US350 million, recorded in early March.[38][39]

Board memberships

Since leaving Disney, Staggs has been an active investor and advisor for various companies, including serving as executive chairman of Vejo, Inc. nutritional beverage and device company, and of Bertsch Industries. He is also a member of the boards of directors of:[40][41]

References

 
Wikimedia Commons has media related to Thomas O. Staggs.
  1. ^ Dun & Bradstreet (May 6, 2010). "Disney Enterprises, Inc. et al v. Hotfile Corp. et al - Exhibit B" (PDF). Justia. Retrieved November 9, 2013.
  2. ^ "Eisner's Mousetrap Disney's CEO says the company has a lot of varied problems he can fix. But what if the real issue is something he can't face? - September 6, 1999".
  3. ^ a b c d e Barnes, Brooks (April 25, 2015). "Thomas Staggs: Disney's Heir, Apparently". The New York Times. Retrieved April 4, 2016.
  4. ^ "2012 Minnetonka Alumni Awardsm4v". YouTube. October 11, 2012. Archived from the original on December 13, 2021.
  5. ^ a b "Tom Staggs Bio" (PDF). The Walt Disney Company.
  6. ^ "U of M Alum Named COO at Disney". University of Minnesota. Retrieved October 9, 2021.
  7. ^ . Forbes. Archived from the original on May 27, 2007.
  8. ^ Sharma, Vivek (May 22, 2020). "Crisis Leadership – 8 Lessons from 8 Global Leaders". ceoworld.biz. CEOworld Magazine. Retrieved October 13, 2021.
  9. ^ Hamedy, Saba (February 5, 2015). "5 things to know about Thomas Staggs, Disney's new No. 2 executive". Los Angeles Times. Retrieved April 4, 2016.
  10. ^ "InStride Adds Former Disney and Michaels Senior Executives to Its Advisory Board". apnews.com. AP News. March 27, 2020. Retrieved October 13, 2021.
  11. ^ Carr, Austin. "The messy Business of Reinventing Happiness". fastcompany.com. Fast Company. Retrieved October 13, 2021.
  12. ^ Carr, Austin. "Tom Staggs". fastcompany.com. Fast Company. Retrieved October 13, 2021.
  13. ^ James, Meg. "Thomas Staggs named chief operating officer at Walt Disney Co". Los Angeles Times. Retrieved October 13, 2021.
  14. ^ Hobbs, Priscilla (2015). Walt's Utopia: Disneyland and American Mythmaking. McFarland. p. 177. ISBN 978-0-7864-9836-9. Retrieved October 13, 2021.
  15. ^ Stewart, James B. "Behind the Scenes at Disney as It Purged a Favorite Son". nyt.com. The New York Times. Retrieved October 13, 2021.
  16. ^ Littleton, Cynthia (February 5, 2015). "Disney Promotes Tom Staggs to No. 2 Post, Positioning Him as Iger's Successor". Variety.com. Variety Magazine. Retrieved February 22, 2016.
  17. ^ Fritz, Ben. "How Disney COO Tom Staggs Sees the Company's Present—and Future". wsj.com. The Wall Street Journal. Retrieved October 13, 2021.
  18. ^ Miller, Daniel; James, Meg (February 5, 2015). "At Disney, Staggs' elevation puts him as front-runner to succeed Iger as CEO". Los Angeles Times. Retrieved April 4, 2016.
  19. ^ Cynthia Littleton (February 5, 2015). "Disney Promotes Tom Staggs to No. 2 Post, Positioning Him as Iger's Successor". Variety.
  20. ^ Lev-Ram, Michal (February 5, 2015). "Will Tom Staggs be the next CEO of Disney?". Fortune.
  21. ^ Barnes, Brooks (April 5, 2016). "Thomas Staggs, Disney's Heir Apparent, Is Stepping Down". The New York Times.
  22. ^ Miller, Daniel (April 4, 2016). "Thomas Staggs, Disney's No. 2 executive, is leaving company". Los Angeles Times.
  23. ^ Byers, Dylan (April 4, 2016). "Disney's No. 2 exec Thomas Staggs leaving company". CNNMoney.
  24. ^ Robehmed, Natalie (April 4, 2016). "Disney COO Thomas Staggs Steps Down From The Mouse House". Forbes.
  25. ^ The Walt Disney Company (April 4, 2016). "Statement from The Walt Disney Company".
  26. ^ Graser, Marc (October 2, 2014). "Bob Iger to Remain Disney Chief through 2018". Variety. Retrieved October 8, 2014.
  27. ^ Fritz, Ben (October 2, 2014). "Disney Extends CEO Bob Iger's Contract Until 2018". The Wall Street Journal. Retrieved October 8, 2014.
  28. ^ "Disney extends CEO Iger's contract by a year to July 2019". Reuters. March 23, 2017. Retrieved March 23, 2017.
  29. ^ Kilday, Gregg (March 29, 2017). "Disney's Dilemma: Can Bob Iger Ever Find a Successor?". The Hollywood Reporter.
  30. ^ Flint, Joe; Glazer, Emily. "CBS Shifts to Hunt for Next Chief Executive". wsj.com. The Wall Street Journal. Retrieved October 9, 2021.
  31. ^ Franklin, Joshua. "Former Disney executives Mayer and Staggs plan new SPAC - source". reuters.com. Reuters. Retrieved October 8, 2021.
  32. ^ Wepring, Alex. "Former Disney Execs Tom Staggs, Kevin Mayer Teaming With Shaquille O'Neal on Media/Entertainment SPAC". hollywoodreporter.com. The Hollywood Reporter. Retrieved October 8, 2021.
  33. ^ Flint, Joe. "Shaq, MLK's Son, Former Disney Executives Team Up to Create SPAC". wsj.com. The Wall Street Journal. Retrieved October 8, 2021.
  34. ^ a b Thompson, Simon. "Forest Road And The Multimillion-Dollar Art Of Maximizing Film Tax Credits". Forbes. Retrieved October 8, 2021.
  35. ^ Palmeri, Christopher. "Former Disney Executives Turn Into L.A.'s Hottest Dealmakers". bloomberg.com. Bloomberg. Retrieved October 8, 2021.
  36. ^ Goldsmith, Jill. "Forest Road SPAC With Former Disney Execs Kevin Mayer, Tom Staggs Buying Digital Fitness Group Beachbody". deadline.com. Deadline. Retrieved October 8, 2021.
  37. ^ FAUGHNDER, Ryan. "The Wide Shot: Why Hollywood is obsessed with SPACs". Los Angeles Times. Retrieved October 13, 2021.
  38. ^ "Investor Appetite for SPACs Appears to Cool Off". Variety. Variety. Retrieved October 8, 2021.
  39. ^ Spangler, Todd. "SPAC Led by Ex-Disney Execs Kevin Mayer, Tom Staggs Raises $350 Million in IPO". Variety. Variety. Retrieved October 8, 2021.
  40. ^ a b "Governance". spotify.com. Spotify Technology SA. Retrieved October 9, 2021.
  41. ^ Garrahan, Matthew (May 25, 2017). "Spotify adds four board directors ahead of US listing". Financial Times. Retrieved May 3, 2021.
  42. ^ "Spotify Technologies SA". wsj.com. The Wall Street Journal. Retrieved October 12, 2021.

January 07, 2023
thomas, staggs, people, with, similar, name, stagg, disambiguation, thomas, owen, staggs, born, 1961, american, business, executive, investor, formerly, worked, disney, nearly, years, beginning, 1990, serving, chief, operating, officer, chief, financial, offic. For people with a similar name see Tom Stagg disambiguation Thomas Owen Staggs 3 born 1961 is an American business executive and investor He formerly worked at Disney for nearly 27 years beginning in 1990 serving as chief operating officer COO and chief financial officer CFO of The Walt Disney Company and as chairman of Walt Disney Parks and Resorts Worldwide He holds directorships on various company boards including Spotify Tom StaggsStaggs in 2014Former COO of The Walt Disney CompanyIn office 5 February 2015 2015 02 05 6 May 2016 2016 05 06 Preceded byBob IgerFormer CFO of The Walt Disney CompanyIn office 1998 1998 2010 2010 Preceded byRichard NanulaSucceeded byJay RasuloFormer Chairman of Disney Parks Experiences and ProductsIn office 1 January 2010 2010 01 01 5 February 2015 2015 02 05 Succeeded byBob ChapekPersonal detailsBorn1961 age 61 62 1 2 NationalityAmericanAlma materUniversity of Minnesota BS Stanford University MBA Signature Contents 1 Education and early life 2 Career 2 1 Disney 2 2 Forest Road 3 Board memberships 4 ReferencesEducation and early life EditStaggs was born in Illinois He graduated from Minnetonka High School in 1978 4 and received a B S in business from the University of Minnesota and an MBA from the Stanford Graduate School of Business 5 Career EditStaggs began his career as an investment banker for Dain Bosworth 6 then Morgan Stanley before joining Disney in 1990 3 Disney Edit After joining Disney in 1990 Staggs rose from his role as a manager of strategic planning to senior vice president of strategic planning and development in 1995 7 Staggs became executive vice president and chief financial officer in 1998 and became Senior Executive Vice President and CFO in January 2000 5 As CFO Staggs was instrumental in purchasing Pixar for 7 4 billion in 2006 as well as acquiring Marvel Entertainment for 4 billion in 2009 3 On January 1 2010 Staggs became Chairman of Walt Disney Parks and Resorts where he more than doubled operating profits to 2 66 billion 3 while overseeing the company s roughly 140 000 cast members 8 9 theme parks two cruise lines and hotel and resort businesses 10 Staggs led the development of the MyMagic plus technology suite 11 and the creation of an Avatar theme land in Disney s Animal Kingdom park 12 Disney CEO Bob Iger credited Staggs with leading unprecedented growth and expansion including the construction of Shanghai Disney 13 14 its 5 5 billion resort 15 On February 5 2015 Staggs was named chief operating officer of The Walt Disney Company 16 17 Despite Disney s rocky history of succession 3 Staggs was then widely reported as heir apparent to Bob Iger as the Disney CEO 18 19 20 On April 4 2016 Disney announced that Staggs and the company had agreed to mutually part ways Staggs stepped down as COO effective May 6 2016 remaining with the company as a Special Advisor to the CEO Bob Iger through the end of the fiscal year 21 22 23 24 25 Iger extended his contract as Disney s chairman and CEO to remain chairman through 2021 26 27 28 29 Following his departure from Disney and prior to its August 2019 merger with Viacom Staggs was in consideration to succeed Les Moonves as CEO of CBS 30 Forest Road Edit In October 2020 Staggs helped form special purpose acquisition company SPAC Forest Road Acquisition Corp as a director teaming with former Disney colleague Kevin Mayer 31 and the Forest Road Company FRC of which he is an original investor and advisory board member Other board members and advisors of Forest Road Acquisition Corp include FRC founder Zachary Tarica Shaquille O Neal Mark Burg and Martin Luther King III 32 33 FRC is a full service provider to the independent film industry loaning funds against state film tax credits 34 FRC began public trading on November 25 2020 NYSE FRX 35 and was reported that month to have raised more than US300 million and to have funded and brokered over 150 film and TV projects through state motion picture tax credits 34 In February 2021 an agreement for a three way merger between Forest Road Acquisition Corp Myx Fitness Holdings and Beachbody was entered into which values the new business combination at US2 9 billion 36 37 On February 18 2021 Forest Road Acquisition Corp II filed for an IPO with Staggs as co founder raising US350 million recorded in early March 38 39 Board memberships EditSince leaving Disney Staggs has been an active investor and advisor for various companies including serving as executive chairman of Vejo Inc nutritional beverage and device company and of Bertsch Industries He is also a member of the boards of directors of 40 41 Spotify Forest Road Acquisition Corp Forest Road Acquisition Corp II Curtis L Carlson School of Management The Center for Early Education PureForm Global 40 REQPay Inc WETA Allemand Subsidiary Inc 42 References Edit Wikimedia Commons has media related to Thomas O Staggs Dun amp Bradstreet May 6 2010 Disney Enterprises Inc et al v Hotfile Corp et al Exhibit B PDF Justia Retrieved November 9 2013 Eisner s Mousetrap Disney s CEO says the company has a lot of varied problems he can fix But what if the real issue is something he can t face September 6 1999 a b c d e Barnes Brooks April 25 2015 Thomas Staggs Disney s Heir Apparently The New York Times Retrieved April 4 2016 2012 Minnetonka Alumni Awardsm4v YouTube October 11 2012 Archived from the original on December 13 2021 a b Tom Staggs Bio PDF The Walt Disney Company U of M Alum Named COO at Disney University of Minnesota Retrieved October 9 2021 Thomas Staggs Profile Forbes com Forbes Archived from the original on May 27 2007 Sharma Vivek May 22 2020 Crisis Leadership 8 Lessons from 8 Global Leaders ceoworld biz CEOworld Magazine Retrieved October 13 2021 Hamedy Saba February 5 2015 5 things to know about Thomas Staggs Disney s new No 2 executive Los Angeles Times Retrieved April 4 2016 InStride Adds Former Disney and Michaels Senior Executives to Its Advisory Board apnews com AP News March 27 2020 Retrieved October 13 2021 Carr Austin The messy Business of Reinventing Happiness fastcompany com Fast Company Retrieved October 13 2021 Carr Austin Tom Staggs fastcompany com Fast Company Retrieved October 13 2021 James Meg Thomas Staggs named chief operating officer at Walt Disney Co Los Angeles Times Retrieved October 13 2021 Hobbs Priscilla 2015 Walt s Utopia Disneyland and American Mythmaking McFarland p 177 ISBN 978 0 7864 9836 9 Retrieved October 13 2021 Stewart James B Behind the Scenes at Disney as It Purged a Favorite Son nyt com The New York Times Retrieved October 13 2021 Littleton Cynthia February 5 2015 Disney Promotes Tom Staggs to No 2 Post Positioning Him as Iger s Successor Variety com Variety Magazine Retrieved February 22 2016 Fritz Ben How Disney COO Tom Staggs Sees the Company s Present and Future wsj com The Wall Street Journal Retrieved October 13 2021 Miller Daniel James Meg February 5 2015 At Disney Staggs elevation puts him as front runner to succeed Iger as CEO Los Angeles Times Retrieved April 4 2016 Cynthia Littleton February 5 2015 Disney Promotes Tom Staggs to No 2 Post Positioning Him as Iger s Successor Variety Lev Ram Michal February 5 2015 Will Tom Staggs be the next CEO of Disney Fortune Barnes Brooks April 5 2016 Thomas Staggs Disney s Heir Apparent Is Stepping Down The New York Times Miller Daniel April 4 2016 Thomas Staggs Disney s No 2 executive is leaving company Los Angeles Times Byers Dylan April 4 2016 Disney s No 2 exec Thomas Staggs leaving company CNNMoney Robehmed Natalie April 4 2016 Disney COO Thomas Staggs Steps Down From The Mouse House Forbes The Walt Disney Company April 4 2016 Statement from The Walt Disney Company Graser Marc October 2 2014 Bob Iger to Remain Disney Chief through 2018 Variety Retrieved October 8 2014 Fritz Ben October 2 2014 Disney Extends CEO Bob Iger s Contract Until 2018 The Wall Street Journal Retrieved October 8 2014 Disney extends CEO Iger s contract by a year to July 2019 Reuters March 23 2017 Retrieved March 23 2017 Kilday Gregg March 29 2017 Disney s Dilemma Can Bob Iger Ever Find a Successor The Hollywood Reporter Flint Joe Glazer Emily CBS Shifts to Hunt for Next Chief Executive wsj com The Wall Street Journal Retrieved October 9 2021 Franklin Joshua Former Disney executives Mayer and Staggs plan new SPAC source reuters com Reuters Retrieved October 8 2021 Wepring Alex Former Disney Execs Tom Staggs Kevin Mayer Teaming With Shaquille O Neal on Media Entertainment SPAC hollywoodreporter com The Hollywood Reporter Retrieved October 8 2021 Flint Joe Shaq MLK s Son Former Disney Executives Team Up to Create SPAC wsj com The Wall Street Journal Retrieved October 8 2021 a b Thompson Simon Forest Road And The Multimillion Dollar Art Of Maximizing Film Tax Credits Forbes Retrieved October 8 2021 Palmeri Christopher Former Disney Executives Turn Into L A s Hottest Dealmakers bloomberg com Bloomberg Retrieved October 8 2021 Goldsmith Jill Forest Road SPAC With Former Disney Execs Kevin Mayer Tom Staggs Buying Digital Fitness Group Beachbody deadline com Deadline Retrieved October 8 2021 FAUGHNDER Ryan The Wide Shot Why Hollywood is obsessed with SPACs Los Angeles Times Retrieved October 13 2021 Investor Appetite for SPACs Appears to Cool Off Variety Variety Retrieved October 8 2021 Spangler Todd SPAC Led by Ex Disney Execs Kevin Mayer Tom Staggs Raises 350 Million in IPO Variety Variety Retrieved October 8 2021 a b Governance spotify com Spotify Technology SA Retrieved October 9 2021 Garrahan Matthew May 25 2017 Spotify adds four board directors ahead of US listing Financial Times Retrieved May 3 2021 Spotify Technologies SA wsj com The Wall Street Journal Retrieved October 12 2021 Retrieved from https en wikipedia org w index php title Thomas O Staggs amp oldid 1131628061, wikipedia, wiki, book, books, library,

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