Disney finance chief Christine McCarthy will be stepping down from her role on July 1 as the company undergoes restructuring under CEO Bob Iger.
McCarthy will take a family medical leave of absence but will continue to serve as a strategic advisor to Disney during that time.
She will also assist in the search for a long-term successor.
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Kevin Lansberry, a veteran Disney executive currently serving as finance chief for Disney’s parks business, will be interim CFO.
She said, “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.”
As part of Iger’s reorganization, the company has been implementing multiple layoffs, targeting 7,000 job cuts this year.
Disney has also faced challenges in the ad market and struggled to differentiate itself in the crowded streaming landscape.
The company reported operating losses for its direct-to-consumer segment.
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During McCarthy’s tenure, Disney’s streaming investments surged, but the change in streaming valuations in 2022 required a strategy shift.
She played a pivotal role during last year’s leadership upheaval at Disney when Iger returned as CEO.
However, reports suggest that her shift in allegiance towards Bob Chapek, the former CEO, led to strained relationships within the company.
While internal dynamics may have been at play, Iger commended McCarthy’s contributions and highlighted her mentorship and role model status, particularly for women in business.
Iger said: “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.”
