Disney names Thomas Staggs as chief operating officer, hinting at possible CEO succession plan

The Walt Disney company on Thursday named Thomas Staggs as chief operating officer, an indication that the company might be planning a successor for CEO Bob Iger.

The No. 2 role has been vacant since Iger, 63, took the top post in 2005.

Staggs, 54, has been with the entertainment and media company since 1990, most recently as head of the parks and resorts division of Disney. He has also been the company's chief financial officer.

He becomes COO immediately. He will keep leading the parks and resorts division until a successor is named.

Burbank, California-based Disney's senior management will now jointly report to CEO Iger and Staggs, except for the CFO, general counsel, chief communications officer and chief human resources officer, who will report only to Iger.