Disney president and CEO Bob Iger has switched the roles of Thomas Staggs, senior executive vice-president and Disney CFO, and James Rasulo, chairman of Walt Disney Parks and Resorts.

As the new chairman of Walt Disney Parks and Resorts Staggs, a 20-year Disney veteran, will preside over the company’s vacation businesses, which spans three continents and include five destinations, a cruise line and resort locations in North America, Europe and Asia.

Senior executive vice-president and Disney CFO Rasulo has been at the company for 23 years and will now oversee worldwide finance operations, corporate strategy and development, brand management, corporate alliances, investor relations, treasury and risk management activities, controller functions, information systems, corporate responsibility, real estate and taxes.

Both will remain members of the senior management group and report to Iger.

“Jay and Tom are both dynamic and versatile executives, who have done a great job over the last several years and have helped me to shape Disney’s strategic direction,” Iger said. “By giving them exciting new challenges that build on both their strengths at a time when each of their respective areas are on the right strategic track, the change is good for them and good for the company.”