Euro Disney changes CEO again

20th May 2005, Comments 0 comments

PARIS, May 20 (AFP) - The Euro Disney theme park near Paris announced on Friday that its chief executive Andre Lacroix was leaving to be replaced by managing director Karl Holz.

PARIS, May 20 (AFP) - The Euro Disney theme park near Paris announced on Friday that its chief executive Andre Lacroix was leaving to be replaced by managing director Karl Holz.  

Holz becomes the sixth chairman in 13 years since the park was opened in 1992. A US national of German birth, aged 54, he joined Euro Disney in September 2004 as managing director.  

Lacroix, aged 45, was leaving to pursue other opportunities, the company said.  

Spokesman Pieter Boterman said that the company did not want to comment further, but said his strategy of opening a new attraction each year until 2008 would not be changed.  

Lacroix had taken on the job in July 2003 after the post had been vacant for nearly 10 months, and he piloted a financial restructuring of the group which had hit severe financial problems.  

The business, of which the US Walt Disney Company owns 40 percent, has struggled with a debt mountain since it opened.  

Although it is one of the biggest amusement attractions in Europe, it has struggled to attract enough visitors, and enough revenue, to service debt and provide a return to investors.

 

© AFP

Subject: French News

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