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Kristin McCarthy, Senior Executive Vice President and Chief Financial Officer of The Walt Disney Company, participates in a panel discussion during the Milken Institute’s Annual Global Conference at the Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California.
Michael Kovac | Getty Images Entertainment | Getty Images
Entertainment giant Christine McCarthy, Disney’s chief financial officer, has said she is stepping down from the role.
You will take family medical leave and continue during that time as a strategic advisor to DisneyThe company said. Disney added that McCarthy would also help find a long-term successor. Kevin Lansbury, Chief Financial Officer of Disney’s Parks Business, will serve as the company’s interim Chief Financial Officer effective July 1.
“I am deeply grateful for the opportunity Bob has afforded me to serve as CFO of this iconic company and am proud of the work my talented team has done to put Disney in a position to capitalize on the business possibilities that lie ahead,” McCarthy said in a press release. .
McCarthy, who started with Disney in 2000 and became chief financial officer in 2015, is leaving as Disney undergoes a broad restructuring during Bob Iger’s second term as CEO. The company has targeted 7,000 job cuts through several rounds of layoffs this year.
Disney has also struggled with a tougher advertising market for media companies and has struggled to differentiate itself in a crowded broadcast space. In its fiscal second quarter, Disney reported an operating loss of $659 million for its direct-to-consumer segment.
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