Wanda's head Wang Jianlin, a billionaire property tycoon and China's richest man, took aim at Disney earlier this year saying the iconic U.S. firm's newly opened Shanghai resort would not be able to compete with his "wolf pack" of parks. China's Dalian Wanda has managed to hire senior former Walt Disney executive, Andrew Kam, to head its theme park business, thereby ramping up the rivalry between the two conglomerates. Wanda is planning to create dozens of entertainment complexes and theme parks around China with Kam leading the way, who had until recently been the managing director of Hong Kong Disneyland Resort. The deal comes as a surprise for many in China, where it was widely expected that Disney's acquisition would be blocked by local regulators.
China's Dalian Wanda has managed to hire senior former Walt Disney executive, Andrew Kam, to head its theme park business, thereby ramping up the rivalry between the two conglomerates. Wanda is planning to create dozens of entertainment complexes and theme parks around China with Kam leading the way, who had until recently been the managing director of Hong Kong Disneyland Resort. The deal comes as a surprise for many in China, where it was widely expected that Disney's acquisition would be blocked by local regulators.