The Walt Disney Firm CEO Bob Iger has introduced that the corporate’s senior govt VP and chief monetary officer Christine McCarthy is stepping down from her position.
McCarthy is about to take a household medical go away however will proceed to function a strategic advisor on the firm to assist with the transition interval following her departure. Her exit comes throughout a tumultuous time at Disney, which is shedding 7,000 workers as a part of its $5.5 billion price financial savings measures.
A key determine on the prime of The Walt Disney Firm for years, she was an outspoken critic of former CEO Bob Chapek’s aggressive streaming subscriber targets and reportedly performed a key position in his removing as CEO and the following return of Iger.
Since Chapek bought the boot, there have been wildly disparate rumors about McCarthy’s future on the group. In December, many insiders have been tagging her as a doable Iger alternative when his contract expires in 2024, whereas others have been citing inner sources that predicted she would go away the corporate someday this 12 months.
McCarthy joined Disney in 2000 as treasurer and have become CFO in 2015. Earlier than becoming a member of Disney, she was the manager VP and CFO of Imperial Bancorp. She at the moment serves on the board of administrators of The Procter & Gamble Firm and FM World and is a trustee of the Carnegie Establishment for Science.
In a launch, Iger mentioned of his long-time colleague:
Christine McCarthy is likely one of the most admired monetary executives in America, and her influence on The Walt Disney Firm throughout 23 years of devoted service can’t be overstated. Christine has served as a key strategic anchor throughout a interval of nice transformation, and she or he and I’ve mentioned her want to make sure an orderly and profitable CFO succession prematurely of the corporate’s transition to its subsequent chief govt officer.
McCarthy mentioned:
I’m immensely grateful for the chance Bob offered me to function CFO of this iconic firm and am pleased with the work my proficient staff has carried out to place Disney to capitalize on the enterprise prospects that lie forward. Though I’m leaving the CFO position, I stay up for serving to with the transition and can at all times be rooting for the success of my prolonged Disney household, who’ve proven again and again that willpower, teamwork, and the pursuit of excellence are an unstoppable mixture.
As Disney searches for a everlasting alternative, govt VP and Disney Parks, Experiences and Merchandise CFO Kevin Lansberry will take over for McCarthy on an interim foundation.
Within the position, Lansberry will assume oversight of the corporate’s worldwide finance group, which incorporates company alliances and partnerships, company actual property, company technique and enterprise growth, enterprise controllership, enterprise know-how, monetary planning and evaluation, international product and labor requirements, international safety, investor relations, threat administration, tax and treasury.
