Meet the New Guard, same as the Old Guard. But Does retaining McCarthy send a message?
On a day when speculation about the return of Bob Iger ran the gamut; the news that the current Chief Financial Officer will stick around as a more-than-interesting coda. On Tuesday, the official Walt Disney Company website posted:
The Walt Disney Company has extended Christine M. McCarthy’s contract as Senior Executive Vice President and Chief Financial Officer through June 30, 2024, it was announced today by Bob Chapek, Chief Executive Officer. McCarthy is a 22-year veteran of the Company and has served as CFO since 2015.
“Christine’s leadership has been indispensable during this time of disruption and transformation, and her impact reaches well beyond our balance sheet. She has been instrumental to Disney’s growth and helped us navigate the most difficult days of the pandemic,” Chapek said in a statement. “Her expertise, judgment and relationships are true assets to the Company, and I am grateful to have her as a valued partner.”
“It is an incredible privilege to serve as CFO of this great company, and I am thankful for the opportunity to continue working with Bob Chapek and the entire senior management team as we advance the Company’s strategic initiatives with an eye toward delivering shareholder value,” added McCarthy in the release. “I am proud of Disney’s world-class financial organization and all it has achieved, and look forward to building on the team’s success in the years ahead.”
Beyond McCarthy, Many of Iger’s People Move On
Finally, writing for The Hollywood Reporter, Alex Weprin reminded readers:
Many of Iger’s top deputies at Disney have left or plan to leave the company at the end of the year, when he is set to step down as executive chairman. Both Iger’s communications chief Zenia Mucha, and general counsel Alan Braverman have said they will leave the company… McCarthy will serve as one of a few c-level holdovers from Iger’s tenure.
For now, anyway.
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