Aug 2, 2023

Former Disney executives Kevin Mayer and Tom Staggs, now owners of CocoMellon's parent company Candle Media, return as consultants

Puck recently reported that former Disney executives and Candle Media co-founder/owners Kevin Mayer and Tom Staggs have been recruited by Walt Disney Company CEO Bob Iger as consultants.

Mayer is the former chairman of Disney's Direct to Consumer and International divisions and led the launch of Disney+. Staggs served as CFO, Park Chief, and COO at Disney before retiring in 2016. Both were considered as potential replacements for Bob Iger, but were passed over.

After leaving Disney, the two launched Candle Media, which acquired Moonbug, the rights holder to Coco Melon, in November 2021.

According to reports, Meyers and Staggs were brought in to discuss the future of ESPN, the Disney company Iger is trying to shake up. With several high-profile layoffs at ESPN in recent weeks, it is clear that more changes are coming to the sports network.

While there is little overlap between what is happening at ESPN and the world of animation, Mayer and Staggs' return to Disney could have significant implications beyond the sports world in the future. since launching Candle Media in 2021 with Blackstone backing Mayer and Staggs have acquired family-oriented production companies operating in the same space as Disney.

What the return of Mayer and Staggs means is still a matter of speculation, but the possibility of Disney acquiring Candle Media or Moonbug does not seem unrealistic, even though the company is currently in cost-cutting mode. Many also point out that Iger's recall of Mayer and Staggs puts them back at the top of the list of potential CEO replacements whose recently renewed contracts expire in 2026. Only time will tell.