When in France, Do as the French : Euro Disney: Theme park operator, in apparent response to soft attendance, elevates a native son to chairman.
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Euro Disney, the Walt Disney Co. theme park near Paris that has struggled with softer than expected attendance and some anti-American backlash, on Friday announced that a French executive will take over the operation.
Philippe Bourguignon, 45, previously second in command as Euro Disney’s president, was named to succeed Robert Fitzpatrick as chairman effective April 12.
Disney executives said Fitzpatrick, 52, who joined Euro Disney in 1987 as the park was being developed, left voluntarily to form his own international consulting firm in Paris and not because of Euro Disney’s disappointing results.
Nonetheless, some analysts said the change would have a positive public relations impact for Disney. Some European intellectuals have gone so far as to accuse the company of exporting American culture by building a “cultural Chernobyl.” The naming of Bourguignon, who just last September was elevated to Euro Disney’s presidency, is seen as another step toward giving Europeans more say over the park’s operations.
Officials added that Fitzpatrick himself wanted to turn over the reins to European managers. He remains on Euro Disney’s board and will serve as a consultant to Disney.
Euro Disney, which opened last April 12, is 49% owned by Disney, which also controls the management of the park. Euro Disney SCA, operator of the park, posted a loss of about $35 million in the fiscal year ended Sept. 30 and expects to lose money in the current fiscal year.
Euro Disney recently has been the subject of scathing comments by European analysts recommending investors sell their Euro Disney shares. But Disney executives defend the park’s performance, noting that all of the company’s other parks overcame early skepticism and became wildly successful.
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