Disney names Chapek to lead theme parks

Walt Disney Co has promoted the head of its consumer-products unit, Bob Chapek, to theme-parks chairman, replacing Tom Staggs.

Chapek starts immediately, Burbank, California-based Disney said on Monday in a statement. Staggs became chief operating officer earlier this month, putting him in line to succeed Bob Iger as chief executive officer of the world's largest entertainment company.

The appointment puts Chapek, 55, in charge of Disney's biggest division in terms of employees and its second-largest by revenue. He previously ran the company's film-distribution and home-entertainment businesses. Chapek has been president of Disney Consumer Products, which sells toys and other merchandise, since 2011.