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Reuters: Wanda hires ex-Disney exec to challenge on theme parks

Oct. 17, 2016 2:26 PM ETThe Walt Disney Company (DIS) StockDISBy: Jason Aycock, SA News Editor22 Comments
  • Dalian Wanda -- the Chinese conglomerate trying to be a theme park thorn in Walt Disney's (DIS -0.7%) side -- has hired a former Disney exec in the field to run its competing business in China, Reuters reports.
  • Wanda, which has planned more than 20 park projects in China to take on Shanghai Disney (a "pack of wolves" against Disney's "tiger," says Wanda chief Wang Jianlin), has hired Andrew Kam, until recently the managing director of Hong Kong Disneyland Resort.
  • "He is hired as the Vice President of Wanda culture group and will be the head of the theme park business line," a source tells Reuters.
  • Kam had left Disney's resort earlier this year after eight years in the job alongside a decline in profits at the park.

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