The Walt Disney Company (TWDC) has announced that Senior Executive Vice President and Chief Financial Officer Christine McCarthy will be stepping down from her role, and taking a family medical leave of absence.
TWDC says McCarthy will continue as a strategic advisor to the company during her leave and will assist with the process of identifying and onboarding a long-term successor to ensure a smooth and successful transition.
In December 2021, McCarthy’s contract was extended through June 30, 2024.
“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.”
Her Replacement
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 Saturday, July 1, 2023.
As Interim CFO, Lansberry will assume oversight of the company’s worldwide finance organization, 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 labor standards, global security, investor relations, risk management, tax, and treasury.
During his tenure at Disney Parks, Lansberry has held a variety of leadership roles, and assumed the position of Executive Vice President and Chief Financial Officer, Walt Disney Parks and Resorts, in 2017, which was expanded in 2018 to also include Consumer Products.
“Kevin has been with the company for more than three decades and is a trusted lieutenant to Christine,” Disney CEO Bob Iger said in a statement. “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.”
About McCarthy
Christine McCarthy joined Disney in 2000 as Treasurer and became Chief Financial Officer in 2015.
Prior to joining Disney, she was the Executive Vice President and Chief Financial Officer of Imperial Bancorp from 1997–2000. She also held various executive positions in finance and planning at First Interstate Bancorp from 1981–1996.
She serves on the Board of Directors of The Procter & Gamble Company and FM Global, and is a trustee of the Carnegie Institution for Science.
McCarthy has received numerous awards and has been named multiple times to Treasury & Risk’s “100 Most Influential People in Finance,” was the recipient of Treasury Today’s Adam Smith “Woman of the Year” Award in 2015, and was honored by the Entertainment Diversity Council in 2016 as one of the “Top 50 Most Powerful Women in Entertainment.”
“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.”
