Disney’s Bryan Castellani To Leave For Warner Music Group CFO Position

Disney’s chief financial officer of Disney Entertainment and ESPN, Bryan Castellani, will be leaving the company to take a new position as the CFO of Warner Music Group.

Castellani will begin at WMG on October 16, while current WBG CFO, Eric Levin, will retire in January 2024.

This is not a good time for Disney as the company has been facing many challenges, ESPN being one of them. Currently, Disney is seeking strategic partners for the sports network, and the new deal with Charter Spectrum is meant to boost its subscribers for the service as well. Disney is seemingly hoping for advertising sales to boost the bottom line.

Now the CFO jumps ship. This is never a good sign.

Meanwhile, Robert Kyncl, chief executive officer of WMG gave this statement about Castellani joining their company:

“Bryan has wide-ranging experience helping one of the world’s most impactful creative enterprises build long-term value and unlock new global possibilities. A dynamic, operational CFO, he’ll be an excellent addition to our executive leadership team, as we grow the WMG of the future for the benefit of our artists, songwriters, investors, employees, and partners.”

Castellani leaves on the heels of Disney’s Chief Information Officer (CIO) Diane Jurgens stepping down earlier this month. So far this year Disney has lost several executives including CFO Christine McCarthy, Chief DEI Officer Latondra Newton, Chairman of the Board Susan Arnold, Chairman, of International Content and Operations Rebecca Campbell, and Chief Technology Officer of Disney’s Streaming Services Jeremy Doig just to name a few.

What is going on over at the House of Mouse?

Comment and let us know!

Source: Bloomberg