Former HK Disneyland finance chief Michael Moriarty returns to lead theme parkBusiness | 30 Oct 2020 12:26 pm
Michael Moriarty, who once served Hong Kong Disneyland Resort as chief financial officer, is succeeding Stephanie Young at the popular theme park from December 27.
He is taking charge at a challenging time, during the theme park's 15th anniversary in Hong Kong. For the fiscal year ended March 2019, Hong Kong Disneyland reported a net loss of HK$105 million. Annual visitor numbers dropped by 4 percent to 6.5 million.
Disney Parks, Experiences and Consumer Products announced the change of guard today.
Moriarty joins from Hasbro Far East, where he was managing director and senior vice president of global sourcing, an announcement said.
Moriarty said he is pleased be returning to the Hong Kong Disneyland Resort and work with the resort team to build upon the strong foundation laid by Young.
“This is an exciting time for Hong Kong Disneyland Resort with several new developments underway that underscore a commitment to Hong Kong and its people as we look to the future of this great city as a place where tourism will continue to thrive.”
Moriarty held several leadership positions of increasing responsibility during his 14 years at the Walt Disney Company, including at Walt Disney World Resort, Walt Disney Imagineering and Hong Kong Disneyland Resort.
Between 2009 and 2012, Michael was chief financial officer of HKDL, where he was responsible for finance, controllership, treasury, alliances and technology during a period of significant expansion that increased the park’s size by 25 percent with the addition of new lands, attraction and experience.
Jill Estorino, president and managing director, Disney Parks International said Moriarty's appointment comes at an exciting time as the resort launches its 15th anniversary celebration.''
A 29-year Disney veteran, Estorino came into her role in July. She is responsible for overseeing the company’s parks and resorts international operations and development, including Hong Kong Disneyland, Tokyo Disney Resort with the Oriental Land Company, Shanghai Disney Resort and Disneyland Paris.
Estorino said: “With Michael’s extensive experience in finance, commercial strategy and operations, along with his knowledge of the Hong Kong market and relationships across Asia, the resort will continue to be well positioned to help drive the recovery of the tourism industry in Hong Kong.”
Young, is transitioning to president, consumer products, games and publishing for Walt Disney Parks, Experiences and Products in December.
Estorino thanked Stephanie for her “remarkable contributions to the resort. Under her leadership, HKDL saw the opening of Ant-Man and The Wasp: Nano Battle!' continued to build on the unique presence of Marvel at the Resort and will unveil the 'Castle of Magical Dreams' as part of the Resort’s 15th anniversary celebration.”
Moriarty holds a Master of Business Administration and Bachelor of Science in Finance from Lehigh University. He and his family have lived in Hong Kong for nearly 15 years.
Hong Kong Disneyland reopened for visitors on September 25 after a temporary closure due to the coronavirus.