From mass layoffs to a CEO shakeup, The Walt Disney Company is in the middle of a huge internal restructuring.
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Many Disney fans were shocked in 2022 when it was announced, seemingly out of nowhere, that former Disney CEO Bob Iger would replace CEO Bob Chapek, effective immediately. Since then, we’ve seen a lot of major changes within the company, including new Park Pass Reservation System updates, Disney+ modifications, and much more. In the latest corporate shakeup, a notable Disney executive is stepping down.
The Walt Disney Company announced on June 15th that the company’s Chief Financial Officer Christine McCarthy is stepping down from her role. She will take a family medical leave of absence.
Christine McCarthy ©The Walt Disney Company
Until a permanent replacement is identified, Disney stated that Kevin Lansberry, EVP and Chief Financial Officer of Disney Parks, Experiences and Products, will serve as Interim CFO, effective July 1st, 2023.
Kevin Lansberry ©The Walt Disney Company
Lansberry took on the position of Executive Vice President and Chief Financial Officer, Walt Disney Parks and Resorts, in 2017, then began to oversee Consumer Products as well in 2018. Most recently, Lansberry was responsible for “the financial planning and fiscal management of domestic and international theme parks and resorts, Disney Cruise Line, Disney Vacation Club, Adventures by Disney, Walt Disney Imagineering, revenue management and analytics, global business development, and Consumer Products,” per The Walt Disney Company.
Walt Disney World
McCarthy released a statement, reading, “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.” Additionally, she explained, “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.”
Magic Kingdom
CEO Bob Iger said, “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.”
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Iger went on to say, “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.”
Walt Disney World
For a while, rumors circulated that McCarthy was a “leading contender” to serve as CEO Bob Iger’s replacement. According to a “Disney insider,” McCarthy “has always been a force to be reckoned with.”
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We will continue to update this post as more information is shared. Stay tuned for more.
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All I know about her is she said park guests ate too much under the former Disney Dining Plan. This was said during Chapek’s reign of disrespect for regular park attendees.
Wasn’t she the one who said Americans were all overweight so they could charge more but decrease portion size?
Agree and agree. We tend to eat too much and the portion size of some meals is too large, shrink the portion size on some meals, reduce the prices on all food. Besides that, I did not care for her so I am not unhappy she is moving along. We need someone from outside of Disney to spearhead the future. Eisner was an outsider and look what he accomplished. Iger is a Disney guy and look what he did. Great for guests or great for stockholder…
Glad to see her go. She did make the DDP comments, as well as saying there’d not ever be any more deep discounting like Disney used to do, even if attendance started suffering. When they talked about her possibly being an Iger successor, it gave me a nauseous feeling. I happen to like Mr. Iger and prefer he stays indefinitely.