Walt Disney has named Thomas Staggs, the head of its theme parks and resorts unit, as chief operating officer of the company, putting him in the lead to succeed Chief Executive Officer Bob Iger in 2018.

Staggs will assume the role of COO immediately while he continues to run the parks business until a successor is named, Disney said in a statement.

Staggs, 54, is a 25-year veteran of Disney and previously served as CFO. He became head of the parks division in 2010.

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