News Christine McCarthy to step down from her role as Chief Financial Officer

MisterPenguin

MisterPenguin

President of Animal Kingdom
Premium Member
The Moles Family said:
The site that shall not be named are saying that McCarthy and Iger but were banging heads on the recent cutbacks and she wanted to go further.
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See, this is why no one should be using That Site for information.

That Site says it's source is the Wall Street Journal which said:

Disney said McCarthy is taking a family medical leave. McCarthy has an ailing husband, who has been in a healthcare facility since the start of the year.

The abrupt exit of McCarthy caught some colleagues and associates by surprise. A person familiar with her situation said there have been no dramatic changes in her life recently that would require her to step back.

McCarthy has clashed with Disney Chief Executive Robert Iger and other top executives over strategy, including the amount of money Disney spends on content and a recent restructuring that she felt didn’t go far enough to streamline the company, a person familiar with the matter said.

In February, Iger reorganized the company and created three main units: one for theme parks and consumer products, another for ESPN, and a Disney Entertainment unit that houses movie and television operations, as well as streaming services Disney+ and Hulu.

McCarthy pushed for the Disney Entertainment unit to be further consolidated to improve profit margins and give Disney a leaner structure more akin to Netflix, putting her at odds with the unit’s leadership, the person familiar with the matter said.
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So there were no "heads banging" and that clash of opinion was not presented by the WSJ as "leading" to her leaving as That Site claims.

Also, in other reporting, the NYT as well as the WSJ says that it's known in Disney circles that Christine's husband does have health issues.

That's why That Site is pure hack. It took was the WSJ was reporting and repackaged it as click-bait drama.

So...
 
Sirwalterraleigh

Sirwalterraleigh

Premium Member
jpeden said:
Her husband has been ill for awhile. The WSJ even noted that there had been no change in her personal situation that warranted a change of her job and it surprised those in the C-suite.

Iger should have 100% listened to her on further entertainment consolidation. That is where the bloat is and it needs to be cut. But like everyone in Iger’s sphere, she was only useful until she stopped worshiping at his feet, and then she became expendable. It’s somewhat crazy (and ironic) that she helped orchestrate bringing him back and that probably ended up being her downfall.

Also don’t forget it was McCarthy who lined up the billions of loans and potential loans that kept Disney afloat when they shut the parks in 2020. She was praised by CFO’s across the country for how she adeptly handled that. We may not like what happened to the parks under her tenure as CFO but to say she wasn’t an adept CFO is factually incorrect.
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I think this is all about them being taken hostage over a dividend…which they can’t do. Cause if they could - they’d of already done it.

Doesn’t matter her record…she was gonna get bused, appeared to be mad, and I don’t blame her one bit.
 
flynnibus

flynnibus

Premium Member
jpeden said:
Her husband has been ill for awhile. The WSJ even noted that there had been no change in her personal situation that warranted a change of her job and it surprised those in the C-suite.
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No, it noted an person's opinion there was no change warranting a change in her job (a single person's opinion, the paper reported on)

jpeden said:
Iger should have 100% listened to her on further entertainment consolidation. That is where the bloat is and it needs to be cut. But like everyone in Iger’s sphere, she was only useful until she stopped worshiping at his feet, and then she became expendable. It’s somewhat crazy (and ironic) that she helped orchestrate bringing him back and that probably ended up being her downfall.
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I await the made for D+ movie some people are working up here in the absence of real information.. it's quite thrilling.
 
Sirwalterraleigh

Sirwalterraleigh

Premium Member
flynnibus said:
Because that is literally the content from the WSJ article they are reporting on.
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Didn’t you hear? The WSJ article is like the onion…everything it actually says…is 180 opposite on comedic effect.

The actual story is she quit because of major new medical things…
…it’s nobodies fault
….it’s definitely not BOB’s fault
…..TWDC has never been more fantastically awesome…especially since that mermaid money is arriving in barges…
….there has never been a ceo anywhere close to Robert Iger. He’s so good that they should come up with a whole new title…just for him.
 
the.dreamfinder

the.dreamfinder

Well-Known Member
flynnibus said:
Finance, not the CEO are the ones that compute the estimated returns, etc to go along with the forecast from sales and product leadership.

They are meant to be the stakeholder representing fiscal responsibility. The whole fiasco about D+ overspend and tracking the market are just as much on finance as it is the CEO. Not saying they had final say, but they do have a role.
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Hmm… that sounds familiar. Wonder when that had happened before?
1686956169162.jpeg
 
el_super

el_super

Well-Known Member
Sirwalterraleigh said:
Business people are egotistical.
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Oof. Well I will spell it out real slow like this time for you.

Not all business people are egotistical.
Not all people over 40 stop reading and learning.
Not all absolutes come from sith lords.

jpeden said:
Her husband has been ill for awhile. The WSJ even noted that there had been no change in her personal situation that warranted a change of her job and it surprised those in the C-suite.
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Time. Time is what has changed. If you have an ailing/dying loved one, how much time can you spend at work?

McCarthy has only ever expressed deep respect for Disney and it makes sense that, if she can't give her job her full attention, she step aside and let someone else manage the day to day. For the good of the company.
 
the.dreamfinder

the.dreamfinder

Well-Known Member
Sirwalterraleigh said:
1. It really is a beautiful park
2. They actually admitted their mistakes.

Disney hasn’t made any mistakes in decades. None.
Everytime a product fails or a movie bombs…it’s because the fans are too stoopid to understand why they should love it.
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The overbuilding of the hotels led to WDI being thrown under the bus for their failures which is partly how we got to where we are now creatively and underinvestment or bad, but cheap concepts in DAK, DCA, WDSP and HKDL.
 
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Nubs70

Nubs70

Well-Known Member
el_super said:
And ... there's no possible way that you could believe that she did this of her own accord?

Somehow no sane, rational person would ever choose to give up professional responsibility to spend more time with an ailing love one?

Or that after months (or years) of turmoil, instability, and long days and longer nights of work, that someone would just need a break?

That somehow taking away her agency and power through this speculation is justified just to support the dim view some people have of Iger?

It's all too silly.
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A CEO fired followed by a CFO getting fired is not a good look.

A CEO getting fired and a CFO.being demoted to an "advisory" position is slightly more palatable.
 
Drdcm

Drdcm

Well-Known Member
MisterPenguin said:
See, this is why no one should be using That Site for information.

That Site says it's source is the Wall Street Journal which said:



So there were no "heads banging" and that clash of opinion was not presented by the WSJ as "leading" to her leaving as That Site claims.

Also, in other reporting, the NYT as well as the WSJ says that it's known in Disney circles that Christine's husband does have health issues.

That's why That Site is pure hack. It took was the WSJ was reporting and repackaged it as click-bait drama.

So...
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They are absolutely infuriating. At least they cited their sources this time (even if it isn’t what the sources said). They used to just copy paste entire articles and claim them as their own.
 
Sirwalterraleigh

Sirwalterraleigh

Premium Member
Drdcm said:
They are absolutely infuriating. At least they cited their sources this time (even if it isn’t what the sources said). They used to just copy paste entire articles and claim them as their own.
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A site can suck…and they do…and not have it equate with everything in the subject being false
 

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