Disney COO Staggs to step down as search for new CEO widens

Sheryl Sandberg of Facebook seen as potential candidate

Los Angeles

TOM Staggs, the veteran Walt Disney Co executive who had been widely seen as the media company's next CEO, will step down on May 6 as the board expands its search for a successor to Bob Iger, Disney said on Monday.

The unexpected move came little more than a year after Mr Staggs had been promoted to chief operating officer, and about two years before Mr Iger, Disney's chief executive and chairman, is due to retire.

A source with knowledge of the situation said Mr Staggs, 55, had learnt that...

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