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Longtime Walt Disney CFO Christine McCarthy announced her abrupt resignation, leaving amid rumors of discord with top brass during a critical period of company restructuring and a management shake-up.
McCarthy's exit may be a bit unpleasant due to her rumored conflicts with the higher-ups. Moreover, she is stepping down as Walt Disney's chief executive officer, Bob Iger, is taking steps to revamp the company.
The outgoing CFO's resignation was confirmed late last week by Walt Disney. But then, she will stay in the office to take on an advisory role while the mass media firm starts its search for a permanent replacement.
SFGate reported that her resignation created more uncertainty since the company is already facing a tumultuous, difficult time. Walt Disney embarked on restructuring and laid off thousands of workers, and many of the firm's divisions, especially it's streaming unit, started to struggle after the fast-track expansion during the pandemic.
CEO Iger has also returned to the company and replaced Bob Chapek, who was ousted last year. It was then speculated that McCarthy has been clashing with Iger and other executives due to the number of expenses for the restructuring and other strategies that include rapid expansion moves. Despite the rumors, the Walt Disney chief said that McCarthy resigned "as she takes family medical leave."
Iger appointed Kevin Lansberry, the CFO and executive vice president of Disney Parks, Experiences and Products, to be interim chief of finance. He is set to take over on July 1.
"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 in a statement. "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."
Photo by: Brian McGowan/Unsplash
