The Walt Disney Company has named company veteran Bob Chapek as its new chair of Parks and Resorts, succeeding Thomas Staggs, who this month was appointed chief operating officer for Disney.

Chapek, who has been with Disney for 20 years and previously served as president of Disney Consumer Products (DCP), oversaw franchise licensing, commercialisation, Disney Publishing Worldwide and the Disney Store. Prior to that, Chapek served as president of Distribution for Walt Disney Studios, and operated as president of Walt Disney Studios Home Entertainment. He has also worked in brand management for Heinz and in advertising at J. Walter Thompson.

In his new role, Chapek will report to Thomas Staggs and Disney chief executive Bob Iger. In a statement, Chapek said he was grateful for the opportunities he had been given at Disney and was looking forward to “creating magical memories” for park visitors.

Chapek will oversee continued developed in Disney’s parks, including the construction of Shanghai Disneyland, the Avatar-themed expansion at Disneyland Florida and the Star Wars developments thought to be coming up in multiple Disney parks. Chapek takes over at a good time, with the parks having recorded a 20 per cent increase in profit over the last year, though there will be concerns over Euro Disney, which is struggling to stay in the black.