In a transfer that reportedly shocked even her friends, Christine McCarthy, CFO of The Walt Disney Firm, resigned on Thursday. McCarthy, who joined the corporate greater than 20 years in the past, will proceed in an advisory position as the corporate searches for a brand new CFO.
“Christine McCarthy is certainly one of America’s most admired monetary executives, and her influence on The Walt Disney Firm throughout her 23 years of devoted service can’t be overstated,” CEO Bob Iger stated in an announcement. “Christine was a key strategic anchor throughout a time of nice change. … She is stepping down from her CFO place as she takes go away for household causes, however has kindly provided to take up an advisory place to assist her successor assume the duties she has carried out so expertly over these a few years .”
The Wall Road Journal reported that “McCarthy has been at odds with Disney CEO Robert Iger and different prime executives over technique, together with the sum of money Disney is spending on content material and a latest restructuring that she says doesn’t go far sufficient left to streamline the corporate.” The Journal additionally reported that “McCarthy’s abrupt exit shocked some colleagues and associates.” One particular person conversant in her scenario stated there haven’t been any dramatic modifications in her life just lately that will require a again down.”
McCarthy might be greatest identified exterior of the corporate for her ill-advised feedback in regards to the weight of Disney visitors. Throughout a convention name on the 2021 outcomes, she recommended lowering portion sizes of theme park meals as a cost-cutting measure.
“We now have issues on the price of items facet,” McCarthy stated. “And it’s attention-grabbing. Simply final week…I used to be speaking to our park’s senior staff about what we may do there. And there are a lot of issues price speaking about. We are able to customise suppliers. We are able to substitute merchandise. We are able to scale back the portion measurement, which might be good for some individuals’s waistlines.”
McCarthy’s resignation provides much more uncertainty at a turbulent time for the leisure big. After a extremely unpopular tenure as CEO, Bob Chapek was pressured out of the corporate final 12 months, prompting the return of former CEO Iger. Underneath Iger, Disney lower 7,000 jobs and initiated a company restructuring. The streaming division specifically is struggling after its speedy progress through the pandemic.
Iger introduced that Disney Parks, Experiences and Merchandise government vice chairman and CFO Kevin Lansberry will function the corporate’s interim CFO within the seek for McCarthy’s successor.
“I’m extraordinarily grateful for the chance Bob has given me to function CFO of this legendary firm and pleased with the work my gifted staff has executed to allow Disney to ship on the enterprise alternatives that lie forward use,” McCarthy stated in an announcement. “Though I’m leaving the place of CFO, I look ahead to serving to with the transition and can all the time work for the success of my prolonged Disney household.”