Disney’s Tom Wolber to Return to Disney Cruise Line

Tom Wolber is leaving his role as president of Disneyland Paris’ management company to become senior vice president of operations for Disney Cruise Line.

Wolber will join the company’s Celebration-based cruise line division later this year, after he helps with the transition for the new president of Euro Disney S.A.S.

Wolber will oversee the recently announced expansion of the fleet, from four ships to six. Wolber replaces Anthony Connelly, who moved to the Imagineering division in January.

Disney announced in 2014 it had appointed Wolber president of Disneyland Paris’ management company, Euro Disney S.A.S. Wolber had previously been senior vice president of Walt Disney World resort and transportation operations for just a few months, overseeing Disney World’s 18 resort hotels and the property’s transportation network in a newly created position.

From the Orlando Sentinel

Disneyland Paris to Remain Closed Through Tuesday

Disneyland-Paris

Disneyland Paris is closed to the public in a highly unusual move because of a string of attacks targeting a stadium, concert hall and cafes in Paris.

Today Disneyland Paris said that its two theme parks near the French capital will remain closed through and including Tuesday after the  attacks on Friday night that killed 129 people based on latest estimates.

On Saturday, the company had said it wouldn’t open for the day. On Sunday, its web site featured a quote from Euro Disney president Tom Wolber, saying: “We mourn those lost to the horrific attacks in Paris. We pray for the injured and we hold them all in our hearts. As part of France’s three-day national mourning period, Disneyland Paris will remain closed through Tuesday 17 November 2015.”

Some 14 million people visited Disneyland Paris last year.

France has deployed 1,500 extra troops around Paris and is tightening its borders because of Friday’s attacks.

Many of Paris’s top tourist attractions closed Saturday, including the Eiffel Tower, the Louvre Museum and the Disneyland theme park east of the capital. Some 3,000 troops were deployed to help restore order and reassure a frightened populace.

 

Inaugural Disneyland Paris Half Marathon To Feature Weekend Full of Family-Friendly Experiences

DLP Castle

The new Disneyland Paris Half Marathon Weekend will be a three-day race weekend that includes a variety of events for runners and fans to experience the theme parks like never before when it debuts in the City of Light on Sept. 23-25, 2016.

The inaugural race weekend in Paris will include fun kids’ races for children of all ages, a 5K course through Disneyland Paris and a scenic half-marathon course through two Disneyland Paris theme parks and the countryside villages that surround the Disney Parks.

In addition to the races, the Paris event, runDisney’s first at a Disney Park outside of the United States, will also offer several family-friendly events, including a pre-race Pasta Party the night before the half marathon where runners can “carb up’’ for the race. There will also be a runDisney Health and Fitness Expo throughout the weekend where runners pick up race packets, shop for the latest running apparel and technology and attend a speaker series involving leading industry experts.

While running through the theme parks and the countryside villages, runners will have the opportunity to meet beloved Disney characters and experience legendary Disney entertainment along the course. And commemorative medals await runners at the finish line.

Race packages go on sale on October 6, 2015.

“We could not be more excited about the upcoming runDisney event,’’ said Tom Wolber, President of Euro Disney S.A.S. “It will make Disneyland Paris the world’s third Disney destination to host this successful sporting series that offers a whole new running experience for the young and young-at-heart.’’

For more information about the race weekend, visit www.run.disneylandparis.com.

Meg Crofton to Retire in June 2015

Meg Crofton

Meg Crofton, who is a 35 year Walt Disney Company veteran,  has announced her intention to retire next ear.

60 year old Crofton said that she will leave her position as President, Operations, US and France to retire on June 1, 2015. There has not been a successor announced as of yet, with the company having nearly 6 months to fill the position that was created for Crofton in July 2011. Meg had previously served for 5 years as President of the Walt Disney World Resort.

In a short interview with an internal Disney publication, Meg shares some thoughts on retirement, and a reflection of her achievements with the company.

Why did you decide to retire?
Well, I never really had a plan for retirement. But I did, over the years, develop a couple of guiding principles. One of the most important was that I wanted to leave while I still had plenty of juice left for the next chapter in my life. I didn’t think about it very much until my 60th birthday, which was last year.

Looking back on it, I realize that it was a decision that I came to very gradually and almost not consciously. I loved what I was doing. I had just made a major move across country and was happily embracing my professional and personal growth opportunities and focusing on our parks and resorts in Florida, California and France. But my husband, Rich, has been retired for some time now, and I became increasingly aware that I really wanted to build our new west coast life with him in San Francisco.

I have so much respect and affection for those I am privileged to work with. As much as I will miss them and the many exciting projects ahead for our Company, the pull to start the next chapter of my life is stronger.

What do you want to do in retirement?
I want to continue my “heart” work of mentoring and helping others, enjoy lots of family time, take advantage of all that my new home city and surrounding countryside offers, do more traveling for pleasure and have a flexible calendar. And I am looking forward to doing all of that!

You have worked closely with your leader, Tom Staggs, for a number of years. Here is what he said:

Anyone who knows Meg knows how much she cares about this company and the dedication she has to anything she does. When she told me a while back about her decision to retire, it was clear that there was conviction in her decision. Her face lit up when she talked about how ready she was to start her next chapter with her husband, Rich. I couldn’t be any happier for her.

There are few people within Parks and Resorts who have inspired as many people and made as significant an impact as Meg has. She has devoted her career to nurturing countless cast members, encouraging them to achieve new heights, coaching them to succeed and helping them down the path, no matter where they wanted it to take them. She has amassed innumerable achievements over the years, literally spanning the globe. And for all that she has accomplished and all of whom she has helped, Meg has done it with an amazing sense of grace and humility, which is what I appreciate and respect the most about her.

Meg is not retiring until June 1, 2015, so we will be naming her successor at a later date. We have many more months to celebrate her and wish her well. I am thrilled that she will be working at Parks and Resorts until then.

Meg, any reaction?
I cannot thank Tom enough for his leadership, friendship, kindness, and unwavering support over the years. I am very excited to be a part of and continue working alongside this tremendous team for the months ahead. I intend to be fully present and enjoy every minute of it!

This is such an amazing company! With the passing of every year, I am more aware and grateful for the blessing of working for an organization whose purpose it is to bring happiness to people and give them cherished memories that last a lifetime. I collect wonderful quotes and found this one years ago…”Memory is a child walking along a sea shore. You can never tell what small pebble it will pick up and store away among its treasured things.” We are so fortunate that at Disney it is their memories with us that our Guests store among their treasured things.

I am deeply proud of every moment I have spent here and feel richly blessed to have had a ringside seat to watch our Company’s special brand of magic touch hearts. I am so excited and confident about the future of our company and the direction of Parks and Resorts. Candidly, it is that excitement that makes my decision to retire so bittersweet.

Walt Disney Company Bails Out Euro Disney as Visitor Numbers Fall

Mickey - DLP

Walt Disney Co. has come to the rescue of its loss-making subsidiary Euro Disney with a 1 billion-euro ($1.3 billion) funding deal that could give the U.S. group total control over Europe’s biggest tourist attraction.

The deal announced Monday includes a rights issue and debt restructuring that will inject 420 million euros in cash into the Euro Disney group and eliminate 600 million euros of its debt owed to Walt Disney via an equity swap.

Euro Disney is currently 40 percent owned by Walt Disney Co. and 10 percent by Saudi prince Alwaleed bin Talal.

Twenty miles east of Paris, the resort has struggled amid the economic downturn in Europe, with attendances down by 700,000 to 800,000 visitors at just over 14 million visitors in the last year. At the same time its total debt of 1.75 billion euros, which is owed to Walt Disney, has hampered its ability to invest in upgrades to the park.

The company said it estimates that revenue for the year just ended on Sept. 30 fell by up to 3 percent to 1.27 billion euros, while earnings before interest, tax, depreciation and amortization dipped to 110-120 million euros from 144 million and net losses rose to between 110-120 million euros from 78 million.

“This proposal to recapitalise the Euro Disney Group is essential to improve our financial health and enable us to continue making investments in the resort that enhance the guest experience,” company president Tom Wolber said in a statement.

Under the plan, shareholders are to be offered nine new shares for every one held for 1 euro a share, raising 351 million euros. The company said the rights offer price represented a 20 percent discount to Friday’s closing price, adjusted for the issuance of the new shares.

In addition, shareholders will have the option to buy some of the shares issued in the debt conversion at 1.25 euros a share to avoid diluting their stakes. The company’s debt will fall to 998 million euros, taking the company’s balance sheet from a negative equity position of around 200 million euros at the end of September to positive equity of 800 million.

Depending on shareholder uptake of the rights issue and debt swap, the company said there was a small chance that the listed entity could be removed from the stock market.

Shares in Euro Disney were down more than 11 percent as investors digested the changes.

“The objective of this operation is to strengthen Euro Disney, not to de-list it from the stock market,” Finance Director Mark Stead told Reuters.

“Everything has been done to help convince shareholders to support the operation and subscribe to the capital increase so as to accompany Walt Disney in developing the company.”

Stead said that the level of Walt Disney’s holding in Euro Disney after the capital increase and debt restructuring will be determined by how many other shareholders take up the share offers.

Alwaleed bin Talal has not yet decided whether to subscribe to the share capital increase.

“I spoke to the Prince this morning, he welcomed the transaction but he hasn’t yet taken a stand on which way he wants to go. He’ll be coming back to us in about a week’s time,” Stead said.

Euro Disney had a market capitalization of 137 million euros at Friday’s close. After the share sale and debt restructuring, the market capitalization of Euro Disney will be roughly 980 million euros, said a company spokesman.

Euro Disney expects to complete the share sale and debt restructuring in the first half of next year.

Head of Walt Disney World Resort Operations and Transportation Tom Wolber Becomes President of Disneyland Paris

disneyland-paris-logo

Euro Disney S.C.A. today announced the nomination of Tom Wolber to the position of Président of Euro Disney S.A.S., the management company of both Euro Disney S.C.A., the holding company, and Euro Disney Associés S.C.A., the operator of Disneyland® Paris, in replacement of Philippe Gas named General Manager of Shanghai Disney Resort.

“One of our greatest assets is the global strength of our teams,” said Tom Staggs, chairman of Walt Disney Parks and Resorts. “Both Philippe and Tom are seasoned Disney veterans with a tremendous combination of leadership skills, business acumen, and international experience that will help ensure that we carry on our legacy of creating unforgettable experiences for our guests. They bring an incredible depth of operational experience to their respective roles and are well positioned to contribute to the future success of Shanghai Disney Resort and Disneyland Resort Paris”.

“On behalf of all Supervisory Board members, I would like to thank Philippe for the excellent collaboration we had together and for his personal involvement in Euro Disney during the last 6 years,” said Virginie Calmels, chairman of Euro Disney Supervisory Board. “We are very proud that The Walt Disney Company has chosen Philippe, a French top executive, to lead a huge and strategic project such as Shanghai Disney Resort. We also welcome Tom and wish him a lot of success in his new function.”

Tom’s appointment will be effective in September 2014. He will transition into this new role during the summer, working with Philippe to ensure continued commitment to the company’s long term strategic priorities.

Tom is German and speaks 4 languages: French, Dutch, English and German. He returns to Disneyland Paris, which he helped to open in 1992 and brings more than 20 years of wide-ranging operations experience including leadership positions at Disney Cruise Line, Disney Vacation Club and both Walt Disney World Resort and Disneyland Paris. He most recently served as the head of Walt Disney World Resort and Transportation Operations, overseeing all of the 28 resort hotels and the property’s extensive transportation network. He has also overseen a number of complex expansion projects, including the successful launch of the Disney Dream and Disney Fantasy and was instrumental in the Disney Springs master plan and the continued growth of Walt Disney Parks and Resorts’ sports business.

Bob Iger Named “2014 CEO of the Year” by Chief Executive Magazine

Bob Iger

Chief Executive magazine today announced that Bob Iger, CEO of The Walt Disney Company, has been named “2014 CEO of the Year,” an honor bestowed upon an outstanding corporate leader, nominated and selected by a group of CEO peers. This is the 29th year the award has been given, with past honorees including Bill Gates, former CEO of Microsoft, Jack Welch, former CEO of GE and Michael Dell, founder, chairman and CEO of Dell Computers.

“Even iconic brands need fixing from time to time,” says JP Donlon, Editor in Chief of Chief Executive magazine. “But instead of the easy fixes, Bob Iger played the long game by addressing Disney’s cultural issues head-on with a three-pronged strategy, making it a stronger, more profitable company with greater depth in its overall brand. For this reason, he is well-deserving of this year’s CEO of the Year honor.”

Just the sixth CEO in the company’s history, Iger, who took over the helm in October 2005, transformed the organization into a profit-making powerhouse. He acquired Pixar Animation Studios from Steve Jobs in 2006 and Marvel Entertainment in 2009. In 2012, Iger negotiated a deal for Lucasfilm, which gave Disney the rights to the Star Wars brand. During Iger’s tenure, Walt Disney’s 2013 shareholder return was 202 percent. In February of this year, the stock price hit an all-time closing high of $79.23, compared to just$23.81 when Iger first took over as CEO.

Nominations for CEO of the Year were garnered from among the readers of Chief Executive magazine. The 10 most frequently cited nominations were evaluated and a winner voted upon at a meeting of a peer Selection Committee, which took place earlier this year inNew York City.

The 2014 CEO of the Year Selection Committee was comprised of: David Cote, Chairman and CEO, Honeywell, and 2013 Chief Executive of the Year; Dan Glaser, President and CEO, Marsh & McLennan; Fred Hassan, chairman, Zx Pharma and partner/managing director, Healthcare at Warburg Pincus; Tamara Lundgren, President and CEO, Schnitzer Steel Industries; Tom Quinlan, President and CEO, RR Donnelley; Christine Jacobs, former chairman and CEO, Theragenics, and director, McKesson; Bob Nardelli, CEO, XLR-8, Bill Nuti, Chairman and CEO, NCR’ Jeff Sonnenfeld, President and CEO, Chief Executive Leadership Institute, Yale School of Management;Mark Weinberger, Chairman and CEO, EY; Maggie Wilderotter, Chairman and CEO, Frontier Communications; and Tom Saporito, Chairman and CEO, RHR International.

“Bob is a visionary and innovator who consistently delivers terrific performance across a diverse portfolio of businesses,” Dan Glasersaid.

“He’s been a disruptive innovator in taking the entertainment industry to another level using new media and new technology,” addedTom Quinlan. “He took a great brand and made it better, which isn’t easy to do.”

Iger’s 2014 CEO of the Year designation will be celebrated at an invitation-only event hosted by NYSE Euronext and the Chief Executive Group at the New York Stock Exchange in July.

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