Rumors Say Disney CFO Christine McCarthy Was Fighting With Bob Iger Before Stepping Down

Previously it was announced that Walt Disney Company CFO Christine McCarthy would be stepping down from her position effective July 1st for a family medical leave. Kevin Lansberry, EVP and CFO of Disney Parks, Experiences, and Products, would step into her role until another CFO could be secured.

The Wall Street Journal sources say that the sudden announcement surprised many of McCarthy’s co-workers. While McCarthy herself had breast cancer back in 2000 and 2015, and her husband has been placed in a healthcare facility for his ailments, many didn’t expect her to leave so soon. Hopefully, her cancer has not returned.

Those sources also tell the Wall Street Journal that there were “clashes” between the CFO and Bob Iger and other top executives. The “King-Killer,” as some sites were calling her, has been removed.

McCarthy is also rumored to be the one to convince Bob Chapek to fire Peter Rice and replace him with Dana Walden. (This is like a soap opera.)

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Before Bob Iger’s return, many sources credited Christine McCarthy for going to the then Chairman of the Board, Susan Arnold, along with other executives who fought to remove Bob Chapek.

However, the return of Iger could have led to her leaving the company if the rumors are true.

According to the Wall Street Journal, McCarthy clashed with returning CEO Bob Iger over the restructuring and was unafraid to do so.

McCarthy has clashed with Disney Chief Executive Robert Iger and other top executives over strategy, including the amount of money Disney spends on content and a recent restructuring that she felt didn’t go far enough to streamline the company, a person familiar with the matter said.
It seems McCarthy wanted to cut down the Disney Entertainment segment further to make it more like their streaming competitor, Netflix. This went against the “unit’s leadership.” Of course, it did.
McCarthy worried the cuts were insufficient to keep the company competitive and “nimble,” as they kept saying during the investor calls. She could be right, given the challenges around streaming and declining advertising rates.
Either way, she is stepping down. It might be her choice. It might be due to medical reasons or her simply being tired of fighting with Iger and other executives. It could be she was allowed to step down to save face or be publicly fired, as Disney is notorious for that. Who knows. All we have is speculation, and that’s likely all we will get.

What do you think? Comment and let us know.





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