Gas to lead Euro Disney

Human resources head to chair company

Theme park operator Euro Disney has tapped its head of human resources, Philippe Gas, as chairman, replacing Karl Holz.

Gas will not start his new role until Sept. 1, although he and Holz will work together over the summer to ensure a smooth transition.

Holz has been appointed prexy, new vacation operations, Walt Disney Parks and Resorts, the company said Friday.

Main priorities for Gas, who has been a Disney group exec for 17 years, include driving Euro Disney results toward profitability.

Revenue at Euro Disney for the first quarter of fiscal year 2008 increased 20% to Euros340.5 million ($538 million), driven by a 14% rise to $276.7 million in theme parks revenues due to a 10% growth in attendance and a 3% in average spending per guest. Hotels and Disney Village revenues increased 17% to $200.2 million.

Last December, Euro Disney implemented a previously approved 1-for-100 reverse share split.

Company operates Disneyland Resort Paris, which includes Disneyland Park and Walt Disney Studios Park, both outside Paris, and seven themed hotels with 5,800 rooms.

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