Jay Rasulo, who lost out on being tapped as heir apparent to CEO Bob Iger, is leaving the Walt Disney Co. effective June 30, the company said.
Rasulo had been chief financial officer for the past five years and oversaw recently acquired Maker Studios. Earlier he had served as head of Disney’s parks division.
In February, Disney named Tom Staggs as chief operating officer, signaling that he was being groomed to succeed Iger as CEO. Staggs had been head of Disney’s parks division and Rasulo’s rival for the top job.
Rasulo will continue to serve in an advisory capacity to Iger and assist in the transition. A new CFO will be named at a later date, the company said.
“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."
“It has been a true honor to work at Disney for these many years, and for a great leader in Bob Iger,” Rasulo said. “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.”