Disney Chief Financial Officer Jay Rasulo to resign at the end of June

Jun 01, 2015 in "The Walt Disney Company"

Posted: Monday June 1, 2015 1:11pm EDT by WDWMAGIC Staff

It is being widely reported that Jay Rasulo, Walt Disney Company Chief Financial Officer, will resign at the end of June 2015.

Rasulo had been tipped as a possible successor to CEO Bob Iger, but the recent appointment of Tom Staggs as Disney No. 2 put Rasulo's future at the company in doubt.

Disney has said that Rasulo will stay on at the company as an advisor assisting CEO Bob Iger with the transition. No replacement for the CFO position has yet been announced.

“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.”

Rasulo joined Disney in 1986 as Director, Strategic Planning and Development and moved through the company, taking the position of CFO in January 2010.

Discuss on the Forums
View all comments →

TsWade2Jun 09, 2015

I say good riddance. That guy is a greedy miser!

raven24Jun 04, 2015

I've already spoken about Disney and Anaheim's relationship, so I'm not going to do that again. Yes, the fans hated DCA, but if it was really the fans that got the billion dollar makeover happening and not the city of Anaheim (seriously...fans vs. an entire city), why did it take 6 years for Disney to decide the makeover was happening? When the DL fans truly make a significant impact and when change is met, it doesn't take 6 years. When Mermaid opened, DLR fans complained about Ariel's hair looking like soft-served ice cream, and it was changed a year later, as well as the CGI animation in the ride, which was also complained about. When it was clear the night parade Light Magic just wouldn't do for the fans, the parade's run ended 4 or 5 months after its debut. Six years? No. It wasn't just the fans. At this point, I couldn't care less if you believe that or not. You're really comparing DCA's situation to that of DHS' and Epcot's? Are those two parks not pulling in healthy numbers, for the most part? Unlike the California parks, people will continue to visit the Florida parks, even in their current states, because of the demographics. A lot of WDW's visitation comes from international visitors, no? Those parks will see some pretty good numbers, given their guest demographics. The DLR, on the other hand, doesn't see many international tourists, which I'm sure you know already. DCA was in horrible shape and seeing significantly low numbers. The park was initially supposed to even out Disneyland's attendance. It failed to do that from the beginning, so yeah, some changes had to be made. There's really no comparison. Disney doesn't always have the upper hand. If they did, the streetcar would be here already, as well as other things, like a space for a new parking lot. You're underestimating Anaheim's influence.

LuvtheGoofJun 04, 2015

Sorry, my bad! Apologies to @raven24. :oops:

LuvtheGoofJun 04, 2015

You claimed that the city of Anaheim pressured Iger into spending a billion dollars to makeover DCA. I asked for some sort of proof, since you were the person making the statement. The Titanic sinking is a matter of public record. The city pressuring Disney into spending tons of money is NOT, so I'm asking for proof. What is so hard for you to understand? Do you think the city was losing truckloads of money because Disney didn't do DCA right the first time? What other incentive could Anaheim possibly have to "pressure" Disney to do something? Why would Anaheim give a crap about DCA, since DLR as a whole was still doing quite well? The FANS cared and spoke up about it all over the place, and I think that is where the incentive came from. And if that's the case, why isn't Orlando pressuring Disney to do something with HS and EPCOT? According to some, they are in just as bad, if not worse, shape than DCA was. I will agree that on some levels, they do need each other, but I think Disney has the upper hand in almost any negotiation.

asianwayJun 04, 2015

He's a she and her name isn't Caitlyn

LuvtheGoofJun 04, 2015

She claimed that the city of Anaheim pressured Iger into a billion dollar makeover of DCA. Not the fans. I don't believe it for a second.

raven24Jun 04, 2015

First of all, when did I ever say in that post "Disney needs Anaheim," sir? Never. Don't put words in my mouth. But since YOU said that, I would definitely say they need each other. Second of all, why does it matter if I defer to someone else/another source who can explain the matter more? Like it's abnormal to do that. I can tell you the Titanic sank in 1912 but best believe I will send one somewhere else for more info because I don't know the whole story. Third of all, Anaheim and Disney have a relationship with each other and yes, Disney sometimes has to meet with the city of Anaheim before making decisions. The streetcar Disney wants is a prime example of that, as well as racking up more land and any kind of other expansions. I don't see why that's so hard to believe without written document.

spacemt354Jun 04, 2015

It's more of a two way street relationship. SoCal residents take great pride in the Disneyland Resort, but are demanding critics when things aren't up to par. DCA 1.0 was met with poor reviews out of the gate, and stumbled to give locals, who make up good chuck of the annual guests, a reason to visit a park based on their own state, in their own state. DCA 2.0 was a mixture of managerial intervention on the side of Disney, who saw the lack of attendance (2004 TEA for DCA was only 5.6 M guests) but also influenced by the starkly negative reviews coming from the locals. Something needed to be done. That seems to be what's happening at DHS today, but the reason I feel it's not happening quicker is because people aren't showing their displeasure in the attendance numbers like with DCA. Since DHS still racks in 10.3 M in 2014, slightly increasing every year, compared to Universal Studios 8.2 M and IOA 8.1 M, Disney feels they can take their time.

asianwayJun 04, 2015

It's not quite like a sports team that can pack up and leave. Disney needs to work with the city, especially if they ever want to expand

LuvtheGoofJun 04, 2015

You made the statement as a matter of fact, providing no proof of anything. Then when asked for anything, you defer to someone else? How can you possibly think that Disney, who many here say doesn't care about us anymore, cares one whit what Anaheim wants? Anaheim needs Disney. Disney doesn't need Anaheim.

WondersOfLifeJun 03, 2015

Best post I've ever read on this site!

PhotoDave219Jun 02, 2015

Because massive profits and visitation will not always happen.....

Vegas Disney FanJun 02, 2015

DCA was done on a tight deadline after Westcot fell through. IIRC Westcot was going to be a nearly $10 Billion project but was dependant on the government for not only hundreds of millions for road improvements and parking garages but also assistance with eminent domain to acquire needed property. The feds offered something like $40 million and Anaheim simply didn't have the kind of money needed to make up the difference, there was also massive blowback from residents and businesses in the area. DCA was done quickly so they could still receive the funds that were allocated for the garage and roads but at 1/10th the cost of the original plan. I've never heard of Anaheim putting pressure on DCA improvements, I just heard it wasn't even pulling 50% of estimates and the only solution was to fix it or close it.

raven24Jun 02, 2015

Nope, but I'm sure @lazyboy97o can.