With Comcast attempting to disrupt The Walt Disney Co.’s December agreement to buy certain assets of 21st Century Fox, Disney chairman and CEO Bob Iger told CNBC that he believes his company’s deal will cross the finish line.

Speaking on CNBC’s Closing Bell with host Julia Boorstin, Iger said Disney is in the process of filing the required regulatory documents for the deal.

“We’re certainly excited about that acquisition and we’re going to remain confident that it’s going to go forward,” Iger said.

Disney and Fox announced their deal – valued at $52.5 billion ($66.1 billion including debt) – in December. While Comcast was an earlier bidder for the assets – Fox was said to prefer Disney equity – the cable company is reportedly readying an all-cash offer for the assets.  In April, Comcast also made a formal offer for 100% of U.K. satellite company Sky – of which Fox owns 39% – for $31 billion. Sky’s board of directors said it “welcomed” the Comcast bid and would evaluate it. 

Iger would not speculate about Comcast’s motivation to launch a competing offer – reportedly in the $60 billion range, not including debt assumption – but said he was confident Disney’s deal to purchase the Fox assets would prevail.

"We made a good deal, actually a deal that shareholders reacted quite favorably to and we're going to remain confident in our ability to close," Iger said.

Iger wouldn’t comment on reports that the Comcast deal would be more attractive to Fox shareholders because it is all cash, as opposed to Disney’s all-stock deal.

"They [Fox] obviously believed not only in what we were paying but how we were paying for it," Iger said.

As it nears the launch of its direct-to-consumer sports product early net year, sports juggernaut ESPN said long-time president John Skipper is resigning to seek treatment for a “substance addiction,” and will be replaced in the interim by former network chief George Bodenheimer. 

The news comes days after ESPN parent The Walt Disney Co. announced a $66.1 billion deal to purchase sports and entertainment assets worth about $66.1 billion from 21st Century Fox.

"Today I have resigned from my duties as President of ESPN," Skipper said in a statement.  "I have had a wonderful career at the Walt Disney Company and am grateful for the many opportunities and friendships. I owe a debt to many, but most profoundly Michael Lynton, George Bodenheimer and Bob Iger.

"I have struggled for many years with a substance addiction. I have decided that the most important thing I can do right now is to take care of my problem,” Skipper continued.

Skipper, 61, joined ESPN in 1997 as senior vice president and general manager of ESPN The Magazine. He was named to his current job on Jan. 1, 2012.

Skipper said in the statement that he has spoken to Disney management and they mutually agreed that it would be appropriate that he resign.

"I come to this public disclosure with embarrassment, trepidation and a feeling of having let others I care about down,” he said in the statement. "As I deal with this issue and what it means to me and my family, I ask for appropriate privacy and a little understanding. To my colleagues at ESPN, it has been a privilege. I take great pride in your accomplishments and have complete confidence in your collective ability to continue ESPN's success."

Bodenheimer, 59, was ESPN chief from 1998 until he retired in 2011. He has agreed to serve as acting chair of the network as the search for a permanent successor to Skipper continues.

"I have great respect for John's leadersip and I applaud the courage he's demonstrating by addressing is challenge head on," Bodenheimer said in a statement. "The most important thing right now for John and his family is that he conquers his additction, and the entire ESPN family is behind him. I've stayed in close contact with John and I believe in the direction he's taking ESPN. He's assembled an outstanding leadership team -- many of whom I know very well -- and I am extremely confident we will work together effectively to move ESPN forward during this transition." The news is especially shocking in that Skipper had just extended his employment deal with ESPN for three years in November.

"I join John Skipper's many friends and colleagues across the company in wishing him well during this challenging time," Disney chairman and CEO Bob Iger said in a statement. "I respect his candor and support his decision to focus on his health and his family."

About a month after announcing plans to offer two direct-to-consumer offerings tied to its ESPN and Disney brands, Walt Disney Co. chairman and CEO Robert Iger offered more details on the products, including the inclusion of its Star Wars and Marvel films in the Disney-branded app, slated for a late 2019 release.

Disney announced plans for the DTC offering in early August. The content giant plans to launch a direct-to-consumer ESPN app in spring 2018 and a Disney app in late 2019. When it was first unveiled, Disney said the ESPN offering would include about 10,000 games, including contests from Major League Baseball, Major League Soccer and colleges that are not currently aired on its ESPN linear channels. The Disney app would include content not shown on its linear Disney Channel, but will have archive movies that are currently part of its output deal with Netflix, which is slated to expire in 2019. http://www.multichannel.com/news/content/disney-set-launch-direct-consumer-services/414481

When it announced the DTC initiatives, Iger said it hadn’t been determined whether its Star Wars and Marvel franchises would be included in the app. Now they will, in addition to other original content.

“We’ve now decided to put the Marvel and Star Wars movies on this app as well,” Iger said at the Bank of America Merrill Lynch media conference in Los Angeles Thursday. “It will have the entire output of the studio – animation, live action and Disney, including Pixar, Star Wars and all the Marvel films. In addition to that we have been spending a fair amount of time developing original content on the movie side for the app. The studio is already dev and will produce four-to-five original films exclusively for the app, primarily live-action.”

He added that its studio library product will be available, about 400-to-500 films, and on the TV side it will create 4-to-5 Disney branded TV series and 3-to-4 TV movies for the app. Television library content also will be available.    

Pricing for either app hasn’t been released yet, but the Disney chief said it could be announced for the ESPN app by the first of the year.

Iger, said he envisions the direct-to-consumer products to offer content much like Apple’s ITunes music service to offer a customized experience.

“Think of what ITunes is,” Iger said. “Where you will be able to go to the platform and actually buy, almost  on an a la carte basis, a sport, a sporting event, a season, a league, maybe a conference as a for instance. You'll be able to pick and choose over time what it is you want, it won't necessarily be a one-size fits all. We may launch it that way, but the goal eventually is to create something that a sports fan can essentially use to design what their sport media experience can be.”

Iger also addressed ESPN’s slipping subscriber base, adding that while there has been some decline, he still believes the network and other Disney properties will negotiate from a position of strength in upcoming carriage renewals. Iger said that he is currently negotiating with one large distributor – he didn’t identify it – and said that more than 50% of its subscriber base comes up for renewal by the end of 2019.

Iger said that despite worries over declining ratings across the industry, live sports is still strong and ESPN’s rights are deep and “quite attractive.”

“As we enter a new cycle of extensions with traditional distributors, we are well positioned,” Iger said. “We intend to drive significant value in those negotiations, I think you have to look at it as a blend of distribution and price. We intend to use the strong hand that we have and the brands that we have as we negotiate these new deals.”        

Walt Disney Co. chairman and CEO Bob Iger said the content giant’s ESPN sports channels saw viewership trends changing years ago and has made the necessary adjustments, focusing its energies on mobile apps and changing shows and talent to drive deeper engagement.

ESPN has taken it on the chin as its subscribership has dwindled, a fact Iger did not ignore on the company’s fiscal second quarter conference call. ESPN’s subscriber losses – about 1 million in the past two months and about 7 million viewers between 2011 and 2015, according to Nielsen data – have largely been due to cord-cutters, cord-nevers and customers that have downgraded their pay TV packages to offerings that don’t include the sports channels. 

“It’s been a blend,” he said. “And it has been fairly steady.”

ESPN has taken up some of the slack by striking deals with over-the-top providers like Sling TV, DirecTV Now and Hulu, but it hasn’t entirely made up the difference, he said, adding that it has forced the company to make improvements.

But Iger said Disney will continue to work with OTT and new platforms because they are more user-friendly, mobile-friendly and have a better user interfaces.

“The combination of those as well as the pricing we believe makes them more attractive to people in lower economic brackets as well as a new generation or a younger generation of consumers,” Iger said. “And that is very, very important to us.”

While ESPN has been criticized for contributing to the high costs of sports by paying huge sums for sports rights – Iger said recent moves have proven that rights to live games are more valuable than ever. Amazon recently paid $50 million for streaming rights to 10 NFL Thursday Night Football games for one year.

Iger said ESPN needs to be managed more efficiently, but that the sports channels will continue to aggressively bid for sports rights.

“We will continue to be aggressive at buying live sports rights, which have not gotten cheaper, we understand, but they have gotten more valuable,” Iger said, pointing to the recent Facebook and Amazon deals.”…live sports is important to new digital platforms, and live sports is important to anyone who is trying to reach consumers in the media business.”

Iger said the ESPN and Disney has been extremely transparent in letting Wall Street and investors know about the drop in subscribers and its plans to right the ship. He pointed to two years ago, when Disney first revealed the sports channel was losing customers as proof of that transparency. 

“We wanted to signal that we had our eyes wide open about what was going on and we fully intended to address what we were seeing and what we've continued to see,” Iger said. It enabled us to take a number of steps to deal with the issue in a way that long-term will serve this company very well.”

Among those steps have been improvements to ESPN’s mobile apps, negotiating new deals with new distributors, buying digital pioneer BAMTech and getting ready to launch its own direct-to-consumer offering by the end of this year.

Iger said there are no current plans to take the entire ESPN lineup direct-to-consumer, but added over time, that is probably where the pay TV industry is headed. He purposely did not offer a time frame for that switch, only saying that it is years in the future.

Iger also chafed at reports that his decision to extend his retirement – he was originally scheduled to step down as chairman and CEO in 2014, but has pushed that date to the end of 2018 – as a sign that the transition process was in trouble. He said he extended his tenure at Disney – he was named CEO in 2005 – because he still felt he had a few more things to accomplish. He also said he hoped that the extra year would make the eventual transition smoother, and possibly give internal candidates a better shot at the top job.

While its ESPN service continued to bleed linear subscribers in the fiscal first quarter, Walt Disney Co. chairman and CEO Bob Iger said more deals are on the way with over-the-top providers, including pacts that could help boost penetration rates for the sports channel.

Iger and other programmers have complained in the past about the lack of accurate audience measurement for over-the-top services. On a conference call with analysts to discuss fiscal first quarter results, Iger said he still has confidence in ESPN, adding that the service has already helped OTT providers yield “nice” subscriber gains.

Related: ESPN Drags Disney

ESPN recently landed a deal with Hulu (in which Disney is a part owner) for its upcoming OTT launch later this year, has signed a deal with an as yet unnamed OTT distributor and is in discussions with other services.

“The deals we’ve done, it seems like we’re on the cusp of some significant growth for new entrants in the multichannel marketplace,” Iger said on the call. “What we like about them is they are mobile first, their user interfaces tend to be very strong and their pricing is lower than the expanded basic bundle most MVPDs are offering. This obviously gives us a chance to attract consumers that may not sign up for multichannel service, or hold consumers into multichannel subscriptions.”

Related: Iger Leaves Door Open to Contract Extension

He added that perhaps the most important aspect of these deals is that ESPN is to be available in all households launched.

“These are light packages that off us 100% penetration from those packages,” Iger said. “We think this wave that we’re seeing really is a signal for what is to come and what the future will be.”

That could be key in that part of ESPN’s subscriber erosion has been blamed by its absence from some so-called skinny bundles that are geared toward non-sports lovers.  

After taking it on the chin regarding subscriber declines at its flagship ESPN sports network, The Walt Disney Co. says new deals and technologies will help drive growth in a segment that hasn’t had it for years.

“We have taken a more bullish position on the future of ESPN’s sub base,” Iger said. “We think that while we were candid a year ago on sub losses, we believe that to some extent the causes of those losses have abated, notably the migration into smaller packages. But we also believe that new entrants to the marketplace, particularly digital MVPDs are going to offer ESPN opportunities that they haven’t had before to reach more people. We think those offerings, because of their pricing, the user interface, their mobile friendly nature, are likely to cause more millennials to either stay in the multichannel ecosystem as subscribers or to enter it when they might not have in the past.”

Disney first admitted it tasted subscriber losses in the summer of 2015, when it said basic subscribers of its ESPN channel had declined by about 3 million in the prior 12 months. That news sent its stock and those of fellow cable programmers into a tailspin from which the sector still hasn’t fully recovered.

And on Oct. 28, Nielsen drove another nail in to Disney’s subscriber coffin, announcing November estimates for ESPN that were down by 621,000 subscribers, double its previous estimates and a new record for the company.

Disney disputed the Nielsen results at the time they were released and still does. Nielsen has said it stands behind the numbers.  Iger said Disney refuted the Nielsen numbers because it had received lower loss estimates from reliable third parties and that Nielsen does not count digital subscribers, a growing segment that Disney believes should be included in the mix.

“We’re realistic about what we’ve seen with recent subscriber trends,” Iger said. "We think the long-term prospects for ESPN are good.”

Disney also has the ability to go direct-to-consumer – it will offer an ESPN direct-to-consumer offering in early 2017 – and its recent investment in MLB BAMTech will only improve that.

Disney plans to launch a direct-to-consumer ESPN product fueled by MLB BAM technology early in 2017.

Iger also hinted that Disney is interested in getting into the acquisitions game, but stopped short of naming any targets. Disney had been rumored to be in the hunt for social media pioneer Twitter a few months ago,  and speculation about a Netflix-Disney pairing has been rampant for years. Earlier today, deal legend Liberty Media chairman John Malone speculated that Disney could spin-off ESPN as a separate company to make itself more attractive to a suitor like Apple. 

Iger again wouldn’t name names, but said that any purchases would have to be centered on improving the customer experience, along the lines of its recent investment in MLB BamTech.

“We think there are some really interesting opportunities, given what’s going on from a technological perspective, to improve our business and to improve the consumer experience by selling directly to consumer,” Iger said. “We are considering and exploring various ways to accomplish this. We think it is something that is important for us to do.”

Iger also commented on recent ratings declines for National Football League games, adding that several factors have contributed to the decline, including the World Series, the Presidential debates and less than compelling matchups.

“It’s a little too soon to jump to conclusions,” Iger said. “We’re being patient about it. We’re going to look at the trend lines and continue to watch it. It’s far too early for us to suggest that we’re concerned. It’s still the highest rated sports programming that’s out there and we’re think we’re lucky to have it licensed on a long-term basis.”     

RELATED:Disney Earnings Growth Falls Short of Wall Street Targets

Walt Disney Co., chairman and CEO Bob Iger backed Hulu’s plans to offer a bundle of pay TV channels through its own live streaming service, adding the online pioneer could be an attractive alternative for consumers.

Hulu unveiled plans to offer its own skinny bundle of live sports, news and events last week. Disney is a partner in Hulu along with 21st Century Fox and Comcast.

Iger said Hulu had the potential to become a formidable multichannel video programming distributor (MVPD) by offer a “best of cable” package to consumers. Hulu hasn’t said how much that package will cost or when it would be released and Iger wasn’t offering any further insight. But he said that Hulu’s moves shouldn’t upset Disney’s current distribution partners, many of whom – like Comcast’s NBC Universal – have their own programming assets.

“We don’t think there will be any negative impact whatsoever to us going into the business of distributing our channels,” Iger said.

Iger said that Disney has had talks with several other distributors about its content, including Sling TV, which introduced a multi-stream package last month that included Fox sports channels but no ESPN. Iger said that Disney had had talks with Sling about the multi-stream product but was not able to reach an agreement by the launch date. However, Iger said he met with Dish Network chairman and CEO Charlie Ergen last week (Dish owns Sling) and has had discussions about being included in the multi-stream product.  

The Disney chief had little to say about the abrupt departure of chief operating officer Tom Staggs, who many believed was Iger’s heir apparent. Staggs announced his resignation in April. His last day at Disney was May 6 but he will remain as an advisor to Iger through the end of fiscal 2016.

Iger said he was sorry that Staggs decided to leave, calling him a “colleague and friend,” but said the Disney board had ample time to find a new successor. Iger’s current employment deal with Disney has another two years left and the chairman and CEO said he has no current plans to extend it. That could leave the door open to him staying on past that date, but at least for now, Iger said he has no plans to stay beyond his agreed upon term.

Walt Disney Co. chief operating officer Thomas Staggs, thought by many to be the heir-apparent to chairman and CEO Robert Iger, is stepping down, effective May 6. 

The move was unexpected. Staggs had apparently won a battle for the No. 2 spot at Disney last year when he was named COO in February and chief financial officer Jay Rasulo resigned four months later.  With Staggs now out of the picture, the succession plan for Iger, who is scheduled to retire in two years, is thrown into disarray.

In a statement, Disney said its board of directors “will broaden the scope of its succession planning process to identify and evaluate a robust slate of candidates for consideration.”

Staggs will remain as special advisor to the CEO, through this fiscal year.

“Tom has been a great friend and trusted colleague for more than 20 years,” Iger said in a statement. “He’s made important contributions to this company, earning wide respect across the organization for his achievements and personal integrity. I’m proud of what we’ve accomplished together, immensely grateful for the privilege of working with him, and confident that he will be enormously successful in whatever opportunity he chooses.”

Staggs has been with Disney for 26 years, most of that as Iger’s right-hand man, serving as chief financial officer and leading its Parks & Recreation division. While Staggs has been part of the company’s successful plans to buy Pixar Animation, Marvel Entertainment and the Star Wars franchise, lately its stock has been hammered by weakness in its television segment as sports network ESPN has lost subscribers due to cord cutting and skinny bundles.

According to a report in the New York Times, Staggs had come under intense scrutiny by the board in recent months, and some board members doubted his ability to run the broader company and maintain its "creative momentum." According to the Times report, Staggs' and the board together agreed to part company.

“Disney truly stands alone, not only because of the company’s phenomenal creativity, but also because of the thousands of remarkable people who make it such an extraordinary place.,’ Staggs said in a statement. “It’s been a privilege to work with them and be inspired by their creativity and commitment. It’s also been a great experience to work with Bob during this dynamic era of unprecedented growth and transformation. I remain grateful for that opportunity, and I’m confident that Disney’s future will be just as exciting as its legendary past.”

Add stadium hunter to Disney chief Bob Iger’s long list of duties.

The Disney chairman and CEO has agreed to serve as non-executive chairman of Carson Holdings, a joint venture of the National Football League Oakland Raiders and San Diego Chargers to build a new stadium in Carson, Calif., about 15 miles  south of Los Angeles.

As non-executive chairman, Iger would be the project’s strategic leader, would select a president for Carson and would have the option of acquiring a minority ownership stake in either team. Iger has agreed not to exercise that option until he is no longer Disney chairman and CEO.

Iger will remain chairman and CEO of Disney and his agreement with Carson Holdings – a five-year stint at a salary of $1 per year with an automatic two-year renewal – stipulates that he will not be involved in any dealings that would conflict with his duties at Disney. Iger signed an extension to his Disney employment contract in October, making him chairman and CEO through June 30, 2018.   At that time, the Disney board would select a new CEO, most likely chief operating officer Thomas Staggs, named to that position in February, who appears to be Iger’s choice for a successor.

In February, the Raiders and Chargers proposed building a $1.7 billion stadium in Carson should they not get a stadium deal in their home markets. The Carson project is in competition with St. Louis Rams owner Stan Kroenke’s $1.86 billion stadium proposal in nearby Inglewood.

The news of Iger’s appointment comes as the cities of Oakland, St. Louis and San Diego make their pitch at NFL headquarters in New York today [Nov. 11] to keep the teams in their respective areas.

"Should the owners approve the move, Los Angeles will proudly welcome two incredible teams to our community and build a stadium worthy of their fans," Iger said in a statement. "L.A. football fans will enjoy unprecedented access to games during the season, in a state of the art stadium designed to deliver the most entertaining, exciting and enjoyable experience possible."  

Shares of The Walt Disney Co. were down slightly (5 cents or 0.05%) to $112.95 each in after-hours trading Thursday after it reported fiscal fourth quarter results, reflecting strong financial performance and what appears to be a calmer investor base.

It helped that Disney was firing on all cylinders in the quarter – overall revenue was up 9.1% and segment operating income rose 27%. At media networks, revenue increased 12% and segment operating income rose 27%, fueled by a 12% increase in revenue and a 30% jump in segment OI at its cable networks. ESPN reported strong performance, with ad revenue up 5% in the period. Domestic affiliate fees across its cable networks were up 17% in the period.

Subscribers to some of its networks were down in the quarter, in line with customer declines across the board at most distributors. While Disney did not offer any details on the losses, investors appear to be taking them better than they did in August, when the revelation that subscribers were down forced Disney to reduce guidance, a move that sent its stock and the rest of the programming sector, into a tailspin.

On a conference call with analysts Disney chairman and CEO Bob Iger said he wouldn’t take back anything he said on the fiscal third quarter conference call, adding that Disney’s revised guidance stull stands.     “There certainly should be no reason to panic over comments like that,” Iger said. “The fact remains that we are in an environment today that is definitely changing, there is definitely more competition for people’s time.”

Iger added that Disney is positioned to take advantage of that, including the launch of a direct-to-consumer offering in the U.K. called Disney Life and its recent deal to have its content distributed by Sony’s PlayStation Vue over the top service. 

“There’s not only a silver lining but a glass half-full perspective on this,” Iger said, adding that of the 50 top cable shows in 2015, 26 of them were ESPN’s.

Walt Disney Co. chief operating officer Tom Staggs, the man that most analysts believe will take over the CEO spot once chairman and CEO Bob Iger retires in 2018,  defended the programmer at an industry conference Thursday, adding that the recent falloff in content stocks was overblown.

Disney shares plunged in early August  after Iger revised ESPN’s guidance, based on what he said was a slight increase in subscriber losses. But investors took that news as a signal that much worse times were ahead, and sent the entire sector into a tailspin.

“The short answer is, yes,” Staggs said at the Bank of America Merrill Lynch Media, Communications and Entertainment conference in Beverly Hills, Calif., when asked if the selloff was an over-reaction.

Staggs defended ESPN, adding that the sports juggernaut has a long runway of growth ahead of it. But he also acknowledged that the landscape is evolving.

While over-the-top services continue to emerge and viewing habits are being spread across linear channels, DVRs, VOD and SVOD, the perception of the pace of that change isn’t quite in step with the reality of the business.

“People sometimes think of this as a zero-sum game, more than is appropriate,” Staggs said. “We continue to believe in the bundle and we will continue to look at ways to enhance the value of that.”

Walt Disney Co. chief Bob Iger took a chunk of time at the media giant’s earnings call Tuesday to address reports that have claimed its ESPN sports network has been struggling under the weight of heavy subscriber losses, adding that the network is performing well.

Iger came out swinging in defense of ESPN, adding that Disney is confident in its performance and that while it has had some subscriber losses, 80% of them are due to an overall decline in the number of multichannel households across the country. He added that actual subscriber losses were lower than what has been released in some reports.

Last month, the Wall Street Journal reported that ESPN was undergoing some serious belt-tightening in order to reduce costs brought on by a sharp decline in subscribers. According to the Journal, ratings measurement giant Nielsen has estimated that ESPN has lost about 3.2 milion subscibers in little more than one year.

Iger admitted that ESPN uses Nielsen subscriber numbers but “they don't necessarily track the number of subs that we get paid on.”

“The numbers that have recently been in the press which are Nielsen numbers were higher in terms of sub losses than those that we are seeing,” Iger continued. “But we're not at this point ready to give specifics in terms of what those numbers are.”

Iger also tried to calm any fears that the Worldwide Sports Leader would go direct to consumer anytime soon. Late last month Iger told CNBC that going direct-to-consumer was “inevitable” for ESPN, but not for at least five years.

Iger stressed that the multichannel video model is still the best way to deliver programming, adding that 83% of multichannel video subscribers watched ESPN in the first quarter.

“When we look at the universe we don't really see dramatic declines over the next five years or so and therefore we are not taking what I would call radical steps to move our products into over-the-top businesses,” Iger said. “We don’t think right now that is necessarily the greatest opportunity. We just don’t think it's necessary.”

But Iger acknowledged that there is value in being on new emerging platforms.

“They want ABC, they want Disney Channel, they want ESPN,” Iger said of those new platforms. “There isn't one that has talked about launching without coming to us, suggesting a desire to have us. We are going to take advantage of those opportunities and at the right price under the right circumstances, license our linear channels to those platforms.”

The Walt Disney Co. continued its management shuffle Tuesday, naming two long-time executives to key roles -- Christine McCarthy as senior executive vice president and chief financial officer and Kevin Mayer as senior executive vice president and chief strategy officer. The appointments, effective immediately, come about four months after Disney named former Parks and Resorts division chairman Thomas Staggs as chief operating officer.

McCarthy will report to Disney chairman and CEO Robert Iger. She was previously executive vice president, corporate Real Estate, alliances and treasurer. As CFO, she will McCarthy will now oversee investor relations, corporate planning and control, tax, corporate treasury, corporate Real Estate, facilities, integrated supply chain management, and corporate citizenship.  She succeeds James “Jay” Rasulo, who stepped down on June 30.  Rasulo will remain on as an adviser to Iger.

“Christine has done an incredible job as Disney’s Treasurer over the past 15 years, and her strong leadership and keen financial acumen make her an ideal Chief Financial Officer,” Iger said in a statement. “She is highly respected in the finance sector, and in this new role she will have even more impact on creating value for Disney shareholders.”

Mayer, who has served as executive vice president, corporate strategy and business development since 2005, will report jointly to Iger and Staggs. In his new role he will oversee corporate strategy, business development, acquisitions, enterprise information technology, innovation, brand and franchise management, and global corporate alliances. 

“Kevin has overseen Corporate Strategy and Business Development at a time of unprecedented growth for Disney, playing an integral role in our successful acquisitions of Pixar, Marvel and Lucasfilm,” Iger said in a statement. “With this promotion to the new role of Chief Strategy Officer he will continue to focus on growth opportunities and help position the company for the future.”

The moves are in line with a succession strategy that started when Staggs was named COO in February, making him the heir apparent to the CEO spot. Iger, who signed an employment extension in October, is expected to stay on as chairman and CEO through 2018.

“I am humbled and honored to be entrusted with the role of CFO of this incredibly dynamic company,” McCarthy said in a statement. “Under Bob’s leadership, Disney has delivered record results, and I look forward to working with our talented senior management team as we build on the company’s financial strength and strong balance sheet to deliver shareholder value.”

Mayer first joined Disney in 1993 as manager of strategic planning, spearheading strategy and business development for all of Disney's interactive/Internet and television businesses worldwide. He left to become a partner and head of the Global Media Entertainment practice of L.E.K. Consulting, but returned to the Disney fold in 2005.

 “I'm extremely gratified to be given this opportunity to further expand Disney’s assets and businesses,” Mr. Mayer said. “Disney’s growth has been incredible these past several years, and I am proud of the role my group has played in facilitating that expansion and excited by the strategic opportunities that lie ahead for the company.”

Walt Disney Co. chief financial officer Jay Rasulo will step down from the company on June 30, chairman and CEO Robert Iger said in a statement Monday.

Rasulo, who was named Disney CFO in 2010 after a stint as head of its Parks and Resorts division, had been expected to leave after being passed over as Iger’s heir-apparent in February. That was when Disney named Parks and Resorts chairman Tom Staggs chief operating officer, what many consider the stepping stone to the CEO chair. Staggs, former Disney CFO, had switched jobs with Rasulo in 2010 in what many saw as an effort to give both men broader experience in the business as they vied to become Iger’s successor.

Iger signed an extension to his employment contract in October and is expected to remain as chairman and CEO through June 30, 2018.

After Rasulo steps down, the formner CFO will serve in an advisory capacity to Iger 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,” Rasulo said in a statement. “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.

“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,” Iger said in a statement. “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."

As senior executive vice president and CFO, Rasulo has also been responsible for the operation of recently acquired Maker Studios. As chairman of Disney Parks and Resorts, Rasulo 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.  Rasulo joined Disney in 1986 as director, Strategic Planning and Development.

The Walt Disney Co. said Thursday that it has named Thomas Staggs as chief operating officer, a move that could put the long-time executive a step closer to the CEO spot expected to open once Disney chief Bob Iger retires in 2018.

Staggs has long been a top candidate to succeed Iger. A 25-year Disney veteran, he served as chief financial officer of the company from 1998 to 2010 when he was moved to head up its Parks & Resorts division, which many believed was an attempt to give him more operational experience.He switched jobs with then Parks & Resorts chairman Jay Rasulo, who was named CFO at the time. Rasulo remains CFO.

Iger recently signed a new employment deal that will keep him chairman and CEO through 2018.

Staggs will assume the COO role immediately and will continue to head Parks & Resorts until a successor is found.

Disney’s senior management team, including all business segment leaders, will report jointly to Iger and Staggs, with the exception of the CFO, General Counsel, Chief Communications Officer and Chief Human Resources Officer, who will continue to report directly to Iger.

“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 a statement.

Staggs joined Disney in 1990 as Manager of Strategic Planning and was named CFO in 1998. Before joining Disney, he worked in investment banking at Morgan Stanley & Co.

As CFO for twelve years, he spearheaded the realignment of Disney’s performance goals toward the combination of profit growth and strong long-term capital returns and free cash flow.  He has been praised by Wall Street for his financial and communications skills, and was consistently voted the entertainment industry’s No. 1 CFO by Institutional Investor magazine.

“It’s a privilege to step into this role, and I am humbled and honored by the opportunity. I look forward to working more closely with Bob and the talented senior management team across the company to continue to build Disney’s future through unparalleled creativity, innovative technology and global expansion,” Staggs said in a statement.

Walt Disney Co. chairman and CEO Bob Iger, fresh off a deal that extended his reign as Disney chief until 2018, received $46.5 million in total compensation in fiscal 2014, a 35.5% increase over the previous year.

Non-equity incentive bonuses made the difference for Iger and other top executives at Disney. Iger received $22.8 million in non-equity incentive plan compensation, a 66.8% increase from the previous year. Iger’s base salary stayed constant at $2.5 million for the year, while he received $8.9 million in stock awards and $8.3 million in option awards, about even with the prior year.

Iger, who was scheduled to retire as Disney chairman and CEO at the end of 2016, agreed in October to extend his contract and serve in those roles through 2018.

Under Iger’s tenure, Disney has had some of its most dramatic growth. In 2014, Disney stock was one of the top performers in the sector, up about 23%.

Other executives that saw big compensation increases in fiscal 2014 include chief financial officer James Rasulo, who saw his non-equity incentive awards nearly double to $6.3 million from $3.8 million and helping to drive his total compensation up 51% to $16.2 million from $10.7 million.