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Disney COO to step down

Rumored candidate to replace Bob Iger resigns from Disney

Disney Chief Operating Officer Thomas Staggs will step down next month.

Staggs has been with Disney for more than a quarter-century. He ran the parks and resorts division and oversaw the development of the Shanghai Disney resort.

Many believed he was a potential candidate to replace CEO Bob Iger.

There is no word on why Staggs is resigning.

Disney said its board of directors will evaluate a "robust slate of candidates," to replace him.