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

[el_super]

One of Iger 's styles is My Way or the Highway .

If Iger wanted her out, there is a perfect model of how that would have happened in Tom Staggs. This wasn't that. Not at all.

She wasn't asked to resign. Shes being kept on in an advisory role, presumably with the intent that her replacement will learn from her experience and operate in the position in a very similar manner.

 

[Sir_Cliff]

Well, the feelings about Christine McCarthy flipped quickly when the narrative became she was forced out for standing up to Iger!

 

[el_super]

Content is crazy expensive to produce.

GOOD Content is. And Iger wanted GOOD content on Disney+ to set it apart. Nothing wrong with that.

 

[TalkingHead]

The bigger they are the harder they fall. Former Disney exec Kevin Mayer left for greener pastures to be the CEO of Tik Tok. After 3 months at Tik Tok , he was fired. Outside execs do come into difficult situations joining a new company and their goal is to turn the company around.

Turning Disney around is like trying to maneuver the Titanic around a Manhattan street corner.

Also to add Universal’s new park will open a few months after Iger leaves. Have to give the guy credit for knowing how to time his exits.

 

[TalkingHead]

GOOD Content is. And Iger wanted GOOD content on Disney+ to set it apart. Nothing wrong with that.

And yet after spending all that money they still haven’t managed a general audience breakthrough hit like Stranger Things or Game of Thrones.

 

[el_super]

And yet after spending all that money they still haven’t managed a general audience breakthrough hit like Stranger Things or Game of Thrones.

Sure they did.

 

[MisterPenguin]

GOOD Content is. And Iger wanted GOOD content on Disney+ to set it apart. Nothing wrong with that.

At the danger of losing my shill cred, originally, Iger wanted *a lot* of content on D+ to compete with other streamers and to replace the cable box which spews out a huge amount of content. Quality wasn't job one.

But now, with Wall Street now hating almost all content creation, he's pivoting to less content but, hopefully, higher quality. All the other content creators are trying to do the same thing so that they don't all bankrupt themselves competing with one another for who can produce the most content.

Interestlingly, when the time came for Disney to pivot from number of subs goosed by a deluge of content, Chapek was doubling down on content spending and ignoring Wall Street warnings. This is partly what prompted Christine M. to run to the Board regarding Chapek (and also Chapek was getting too cozy with Peltz).

 

[el_super]

At the danger of losing my shill cred, originally, Iger wanted *a lot* of content on D+ to compete with other streamers and to replace the cable box which spews out a huge amount of content. Quality wasn't job one.

I certainly haven't watched everything on Disney+, but I really don't think quality itself was an issue. Even shows like the Mighty Ducks and that weird one with John Stamos seemed well produced and adequately funded. They just spent too much on productions and supressed the pricing to encourage more subs because, as I'm sure we all know. the street felt sub numbers were the key indicator to streaming performance before they remembered that they had to make money.


At the risk of losing my shill cred, I think Iger's biggest challenge coming up, and the biggest sign of his hubris, might be thinking that he can continue to make big-budget content, and will just be MORE SELECTIVE on what they spend the money on. He wants to be able to pick the winners from a smaller stack and it's a far riskier gamble then pivoting to smaller budget productions like documentaries, reality and/or game shows. He clearly sees himself as a creative and one that wants to spend money on the right projects, but financially, that's risky.

Interestlingly, when the time came for Disney to pivot from number of subs goosed by a deluge of content, Chapek was doubling down on content spending and ignoring Wall Street warnings. This is partly what prompted Christine M. to run to the Board regarding Chapek (and also Chapek was getting too cozy with Peltz).

He was just too slow to pivot. Iger was the one promoting spending heavily on D+ and it was really the plan all along. Chapek just continued that. They could have built seven DisneySea style parks for the amount of money Chapek was willing to spend on content.

 

[Tha Realest]

Well, the feelings about Christine McCarthy flipped quickly when the narrative became she was forced out for standing up to Iger!

“She or someone in her family is sick? Good…wait — she did what? — God save the Queen!”

 

[FettFan]

You think that McCarthy implemented changes in the parks to make up for the fox purchase? wouldn't that have landed on the shoulders of whoever was doing finances for the parks? I wonder who that guy is.

Correction: she implemented changes across the entire company to make up for the Fox purchase.

 

[HauntedPirate]

At the danger of losing my shill cred, originally, Iger wanted *a lot* of content on D+ to compete with other streamers and to replace the cable box which spews out a huge amount of content. Quality wasn't job one.

But now, with Wall Street now hating almost all content creation, he's pivoting to less content but, hopefully, higher quality. All the other content creators are trying to do the same thing so that they don't all bankrupt themselves competing with one another for who can produce the most content.

Interestlingly, when the time came for Disney to pivot from number of subs goosed by a deluge of content, Chapek was doubling down on content spending and ignoring Wall Street warnings. This is partly what prompted Christine M. to run to the Board regarding Chapek (and also Chapek was getting too cozy with Peltz).

That's it. Turn in your Shill Card on your way out today.

 

[FettFan]

If Iger wanted her out, there is a perfect model of how that would have happened in Tom Staggs. This wasn't that. Not at all.

Or even Chapek. From what I've heard, he learned of his ouster while at a baseball game; someone sent him the news article via text message.

 

[GhostHost1000]

I guess it’s time for Apple to buy Disney and the Apple CEO run it all

 

[TalkingHead]

Sure they did.

I said general audiences, not franchise junkies who watch everything coming off their conveyor belt of choice

 

[MR.Dis]

I guess it’s time for Apple to buy Disney and the Apple CEO run it all

And why would Apple want this mess of a company? They do not know who they are, what they want to be, or where they are going.

 

[flynnibus]

At the end of the day... the company faced huge market scrutiny, threw out the CEO, went through a major restructure, and is now losing it's CFO... all within 8 months.. and still without a long term leader in place and still a hazy future market place.

Not a good place for all those people screaming over why hasn't the stock rebounded back to where it was. These are all dark clouds blocking bright future outlooks.

 

[GhostHost1000]

At the end of the day... the company faced huge market scrutiny, threw out the CEO, went through a major restructure, and is now losing it's CFO... all within 8 months.. and still without a long term leader in place and still a hazy future market place.

Not a good place for all those people screaming over why hasn't the stock rebounded back to where it was. These are all dark clouds blocking bright future outlooks.

Yeah not good confidence for investors for sure.

 

[Alanzo]

Disney will snag stuff when the recession comes. Disney will not be snagged.

 

[Trauma]

At least a Pixar movie is coming out this weekend.

That will be a big boon for the company!

Right?

 

[Alanzo]

At least a Pixar movie is coming out this weekend.

That will be a big boon for the company!

Right?