James Rasulo, who had been ceo of EuroDisney for the past two years, was named president of Walt Disney Parks and Resorts, it was announced by The Walt Disney Co. (Burbank, Calif.). Rasulo replaces Paul Pressler, who last week was named ceo of The Gap Inc. (San Francisco).
Rasulo, a 17-year Disney veteran, initially managed the company's real estate businesses. He also spent three years with Disney Regional Entertainment, where he was part of the development of ESPN Zone and the ill-fated Club Disney, a series of clubs built specifically for families, later abandoned as a strategy. In 1998, he moved to Paris to become executive vp for EuroDisney. He was named ceo two years later.
At the Parks and Resorts operation (Lake Buena Vista, Fla.), Rasulo will oversee the company's U.S. theme parks in Florida and California, the Disney Cruise Line, Disney Regional Entertainment and Anaheim Sports, which manages the Anaheim Angels baseball team and the Mighty Ducks hockey team. (Last week, Disney announced it had hired an investment bank to help sell its sports teams.) He will also be in charge of international expansion, including the expected 2006 opening of Hong Kong Disneyland.
The theme park division, which makes up about 40 percent of Disney's operating income, has been ailing as tourism and travel have declined — a result of the downturn in the economy and the September 11 terrorist attacks.
Analysts are uncertain as to when the business will turn around, but Rasulo's European track record should be encouraging. Ten years ago, when the Disneyland Resort Paris in Marne-la-VallŽe, France, opened, Europeans derided the park, saying it was “too American.” But in recent years the resort has gained acceptance. Last spring, he oversaw the opening of the $538 million Walt Disney Studios, the newest addition to the Disneyland resort outside Paris.
Rasulo said it was important to listen to what attendees wanted, and he added parades to attract more visitors. He said it was not enough for people to be aware that a new park was opening. Disney California Adventure, Disney's new park in Anaheim, has been criticized for being too commercial and not providing enough rides for young visitors.
“His vision and extensive experience in the international arena will be invaluable as we continue to grow the business globally,” said Disney ceo Michael Eisner.