Disney’s Chief Financial Officer (CFO), Christine McCarthy, has her contract recently extended through June 30th 2024. She began serving as CFO for the company in 2015 and is considered to be one of the top female financial executives in entertainment. Her contract was originally set to expire in mid-2022 before the renewal.
Bob Chapek recently spoke about her re-signing with the company.
“Christine’s leadership has been indispensable during this time of disruption and transformation, and her impact reaches well beyond our balance sheet. She has been instrumental to Disney’s growth and helped us navigate the most difficult days of the pandemic. Her expertise, judgment, and relationships are true assets to the Company, and I am grateful to have her as a valued partner.“
McCarthy also spoke about her re-signing:
“It is an incredible privilege to serve as CFO of this great company, and I am thankful for the opportunity to continue working with Bob Chapek and the entire senior management team as we advance the company’s strategic initiatives with an eye toward delivering shareholder value. I am proud of Disney’s world-class financial organization and all it has achieved, and look forward to building on the team’s success in the years ahead.“
However her re-signing will be met with some distain. During the beginning of the COVID-19 pandemic thousands of Disney cast members at both Disneyland and Walt Disney World were let go. Shortly after McCarthy received her previous annual contract with up to an $11 Million Incentive Bonus. Many, both inside and outside the company, were upset as that $11 Million could have gone towards helping the recently unemployed as many had to rely on food drives to survive.
She also came under fire recently when she joked about guests “waist lines” during the Q4 Earnings Call with investors.
Hopefully she does a good job as CFO until her eventual contract expiration.
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