McCarthy stepping down as Disney CFO
June 16, 2023
The Walt Disney Company’s 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. 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 1st.
Bob Iger, Chief Executive Officer, The Walt Disney Company, revealed the news, adding that McCarthy will continue as a strategic advisor to the company during her leave.
“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 added. “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 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 organisation, 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 labour standards, global security, investor relations, risk management, tax and treasury.
“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.”