Disney‘s chief financial officer (CFO) Christine McCarthy is stepping down and taking a family medical leave of absence. She will be replaced by Kevin Lansberry as interim CFO from 1 July.
McCarthy, who also serves as the Walt Disney Company’s senior executive vice president, will continue as a strategic advisor during her leave, also helping to identify her successor.
Veteran Disney executive Lansberry is currently the executive vice president and CFO of the company’s parks, experiences and products division.
“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,” said Disney CEO Bob Iger.
Kevin Lansberry named interim CFO
“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.”
McCarthy joined Disney in 2000 as treasurer and became CFO in 2015. Before this, she was the executive vice president and CFO of Imperial Bancorp, and held executive positions in finance and planning at First Interstate Bancorp.
“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.”
As interim CFO, Lansberry will oversee Disney’s worldwide finance organisation. “Kevin has been with the company for more than three decades and is a trusted lieutenant to Christine,” Iger said.
“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.”
“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 added.
“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.”
Disney’s CFO change comes as the entertainment giant is completing a round of cutbacks to save $5.5 billion in costs, with 7,000 employees being laid off.
