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After Disney announced that its CFO Christine McCarthy is taking a family medical leave of absence from the company, it has been suggested that Bob Iger could stay on as CEO beyond his planned departure from the company in 2024
Tom Anstey | Planet Attractions | 20 Jun 2023
Credit: Disney
Disney CEO Bob Iger could stay on at Disney for a longer period of time following the sudden departure of CFO Christine McCarthy last week.
Iger unexpectedly returned to Disney in November last year after taking over from Bob Chapek, who left the company after less than three years in the role.
According to investment firm Loop Capital, Disney’s board of directors could ask Iger, whose contract expires in 2024, to stay on longer following McCarthy’s departure.
In an investor note, the firm said that Disney’s board “is now in a position where it will be performing both CFO and CEO searches almost simultaneously,” calling its current period “one of the most disruptive periods” in the history of the company. It added that “given this unexpected change, we speculate whether the board might ask Mr. Iger to remain CEO for an additional year”.
Following his return, Iger has been working hard to boost profitability from Disney’s streaming initiatives, including Disney+. In an effort to save US$5.5bn (€5bn, £4.3bn), the company recently shed 7,000 jobs. Iger has also been working to give more power to the leaders of Disney’s creative divisions, including Imagineering.
McCarthy - a significant member of Disney’s senior management team in recent years and a potential contender to the Disney throne - is taking a family medical leave of absence from the company.
In the interim, Kevin Lansberry, EVP and CFO of Disney Parks, Experiences and Products, will serve as CFO, while McCarthy will continue as a strategic advisor during her leave and will assist in identifying and onboarding a long-term successor to her position.
“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 capitalise on the business possibilities that lie ahead,” said McCarthy.
“Although I am leaving the CFO role, I look forward to helping with the transition and will always be rooting for the success of my extended Disney family.”
Iger added: “Christine McCarthy is one of the most admired financial executives in America, and her impact on The Walt Disney Company during 23 years of dedicated service cannot be overstated.”
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