After losses, Hong Kong Disneyland gets new leader

|By:, SA News Editor

Hong Kong Disneyland -- the joint venture in which Walt Disney (NYSE:DIS) owns 47% -- has changed leadership amid recent losses stemming from tourism that dropped more than 9% Y/Y.

Andrew Kam resigned for personal reasons, the company said, and it has promoted Samuel Lau to managing director.

For its last fiscal year, revenues fell 7.3% (to HK$5.1B) and the theme park swung to a loss of HK$148M (about $19M) from a prior-year profit of HK$322M.

Subscribe for full text news in your inbox