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

TheMaxRebo

Well-Known Member
A new CFO will not impact what happens at the parks/wherever. You'll need a new CEO with vision and the CFO helps make that vision affordable.

Not the parks specifically but how they look at the financials and strategy on how to handle gains and losses, etc and how they communicate with analysts and investors

It's not Iger but a change in CFO of a major company is not nothing
 

JD80

Well-Known Member
Not the parks specifically but how they look at the financials and strategy on how to handle gains and losses, etc and how they communicate with analysts and investors

It's not Iger but a change in CFO of a major company is not nothing

For sure, but it's not something we'll be able to notice from a Disney Parks fan forum. Not at least until Iger leaves.
 

flynnibus

Premium Member
I'm talking about the people caller her awful and being happy she's gone when it's for a health reason
Again, you can like her leaving (even hate her) without liking why she chose to leave.

. In the end we're all people and no one deserves that.

People can show her compassion outside of her work without having to like her work. They are not so coupled as you keep suggesting.
 

Lilofan

Well-Known Member
Press release below.

The Walt Disney Company’s (NYSE: DIS) Senior Executive Vice President and Chief Financial Officer Christine M. McCarthy will be stepping down from her role and taking a family medical leave of absence, and veteran Disney executive Kevin Lansberry, Executive Vice President and Chief Financial Officer of Disney Parks, Experiences and Products, will serve as the company’s Interim CFO, effective July 1, it was announced today by Bob Iger, Chief Executive Officer, The Walt Disney Company. McCarthy will continue as a strategic advisor to the company during her leave and will assist with the process of identifying and onboarding a long-term successor to ensure a smooth and successful transition.

“Christine McCarthy is one of the most admired financial executives in America, and her impact on The Walt Disney Company during 23 years of dedicated service cannot be overstated,” Iger said. “Christine has served as a key strategic anchor during a period of great transformation, and she and I have discussed her desire to ensure an orderly and successful CFO succession in advance of the company’s transition to its next chief executive officer. She is stepping down from her CFO role as she takes family medical leave, but has graciously offered to move into an advisory position to assist her successor in assuming the duties she has so expertly handled these many years.”

“I am immensely grateful for the opportunity Bob provided me to serve as CFO of this iconic company and am proud of the work my talented team has done to position Disney to capitalize on the business possibilities that lie ahead,” McCarthy said. “Although I am leaving the CFO role, I look forward to helping with the transition and will always be rooting for the success of my extended Disney family, who have shown time and again that determination, teamwork and the pursuit of excellence are an unstoppable combination.”

Lansberry has agreed to serve as Interim CFO while a thorough search of internal and external candidates is conducted for a permanent replacement. “Kevin has been with the company for more than three decades and is a trusted lieutenant to Christine. Having expertly served as CFO at our largest business segment since 2017, he has my complete confidence, and I look forward to working with him during this transition,” Iger said.

As Interim CFO, Lansberry will assume oversight of the company’s worldwide finance organization, which includes corporate alliances and partnerships, corporate real estate, corporate strategy and business development, enterprise controllership, enterprise technology, financial planning and analysis, global product and labor standards, global security, investor relations, risk management, tax and treasury.

McCarthy joined Disney in 2000 as Treasurer and became Chief Financial Officer in 2015. Prior to joining Disney, she was the Executive Vice President and Chief Financial Officer of Imperial Bancorp from 1997 to 2000. She also held various executive positions in finance and planning at First Interstate Bancorp from 1981 to 1996. She serves on the Board of Directors of The Procter & Gamble Company and FM Global and is a trustee of the Carnegie Institution for Science. McCarthy has received numerous awards and has been named multiple times to Treasury & Risk’s “100 Most Influential People in Finance” and was the recipient of Treasury Today’s Adam Smith “Woman of the Year” Award in 2015 and was honored by the Entertainment Diversity Council in 2016 as one of the “Top 50 Most Powerful Women in Entertainment.”

“Among her many contributions to the company, one of the things I admire most about Christine is the generous mentorship she has provided to so many of her colleagues over the years, including countless women,” Iger said. “She has opened doors, created opportunities, and served as a role model for women at every level of business – not just at Disney, but around the world.”

Kevin was VP of Downtown Disney during the heyday infamous Pleasure Island days.
 

Slpy3270

Well-Known Member
Considering how she handled the Chapek regime I don't think she would've been a prime successor for Iger as CEO.

It actually wouldn't surprise me if Iger starts looking for an outsider for once. Maybe some old WarnerMedia guys pushed out after the Discovery merger?
 

flynnibus

Premium Member
Not the parks specifically but how they look at the financials and strategy on how to handle gains and losses, etc and how they communicate with analysts and investors

Yeah, but it's not just a press secretary role either.. The finance team is basically the lungs and circulation of the giant.. They will sense and adapt week to week and month to month to adapt to the surroundings and ambitions.

What they do and the decisions they make really affects how the company operates month to month.

This is a potential for a huge shift for Disney.. and also an incredibly difficult spot to be in to lure in the best talent. Who wants to jump in and risk being that big CFO when you don't know who your CEO will be? I'd wager they'll keep their internal promotions for awhile while the CEO topic is still left open ended...
 

FettFan

Well-Known Member
After learning that someone is leaving work because of medical reasons, what do you think sounds better?

"Thank god that awful woman is leaving."

or

"While I wish her and her family well, I look forward to seeing someone else in that position"

Compromise Shrug GIF
 

Sirwalterraleigh

Premium Member
Yeah, but it's not just a press secretary role either.. The finance team is basically the lungs and circulation of the giant.. They will sense and adapt week to week and month to month to adapt to the surroundings and ambitions.

What they do and the decisions they make really affects how the company operates month to month.

This is a potential for a huge shift for Disney.. and also an incredibly difficult spot to be in to lure in the best talent. Who wants to jump in and risk being that big CFO when you don't know who your CEO will be? I'd wager they'll keep their internal promotions for awhile while the CEO topic is still left open ended...
You know what the problem is. About 5’6” in heels
 

EeyoreFan#24

Well-Known Member
As Interim CFO, Lansberry will assume oversight of the company’s worldwide finance organization, which includes corporate alliances and partnerships, corporate real estate, corporate strategy and business development, enterprise controllership, enterprise technology, financial planning and analysis, global product and labor standards, global security, investor relations, risk management, tax and treasury.

Interesting mix of business units for a finance org. I guess everything comes down to money eventually, but some oddity’s in there. IMO of course.
 

Slpy3270

Well-Known Member
That she's remaining with the company through 2024 suggests finding a new CFO will take some time.

At least they're not in NBCUni's shoes; they still haven't found a replacement for ex-CEO Jeff Shell.
 

HauntedPirate

Park nostalgist
Premium Member
She’s is “leaving” with cause and to shield Bob. I’ll never convince you…but that doesn’t matter.

Stock has lagged and they have problems in near every business unit…
I know who the LAST to take blame will be.

I’m sure she was handsomely compensated and doesn’t likely deserve the shade…she is NOT the problem.

Does this entity resemble a weasel and wear sweaters/cardigans?
 

flynnibus

Premium Member
You don't get FMLA as a C-Suite executive at a Fortune 500 company if your circumstances aren't dire.
Huh? She's walking away and being given an advisor role to collect a check for awhile.

Why do people keep bringing up FMLA like she's being given something unusual? The alternative is she walks and the company faces scrutiny about continuity and disruption. She's under contract anyway. Giving her a paid role as a quiet exit is pretty much the norm for C-level execs.. except in the most dire 'GO' scenarios.

The company is OBLIGATED to give her FMLA. Obviously no C-level wants that as the impact to their career is major and regaining your seat is complex - but the 'you don't get...' line makes no sense to me.
 
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