Kevin Lansberry to serve as interim CFO.
Disney senior EVP and CFO Christine M. McCarthy is stepping down to take a family medical leave of absence as Disney’s and company veteran Kevin Lansberry will serve as interim CFO.
McCarthy will continue to serve as a strategic advisor to assist with the search for a long-term successor.
Disney CEO Bob Iger said, “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.
McCarthy joined Disney in 2000 as treasurer and became CFO in 2015. Prior to joining Disney,...
Disney senior EVP and CFO Christine M. McCarthy is stepping down to take a family medical leave of absence as Disney’s and company veteran Kevin Lansberry will serve as interim CFO.
McCarthy will continue to serve as a strategic advisor to assist with the search for a long-term successor.
Disney CEO Bob Iger said, “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.
McCarthy joined Disney in 2000 as treasurer and became CFO in 2015. Prior to joining Disney,...
- 6/15/2023
- by Jeremy Kay
- ScreenDaily
Disney won’t give a figure for the cost of the ongoing WGA strike yet, noting that the “new development” has not yet been quantified by the company.
“We have not estimated that because that’s a new development and we haven’t really quantified what that is, because we don’t know how long it’s gonna last,” CFO Christine M. McCarthy said of the WGA strike during Wednesday’s earnings call. Without the estimate, earnings guidance for the rest of the fiscal year, as expanded on during Wednesday’s call, do not include the expected impact of the strike.
The strike has already shut down production on several Disney projects, including Disney+’s “Blade,” which shut down its pre-production, Disney Channel’s “Bunk’d,” which paused its production, and ABC’s “Abbott Elementary,” which went dark after its writers’ room was set to reconvene for Season 3 pre-production in May.
“We have not estimated that because that’s a new development and we haven’t really quantified what that is, because we don’t know how long it’s gonna last,” CFO Christine M. McCarthy said of the WGA strike during Wednesday’s earnings call. Without the estimate, earnings guidance for the rest of the fiscal year, as expanded on during Wednesday’s call, do not include the expected impact of the strike.
The strike has already shut down production on several Disney projects, including Disney+’s “Blade,” which shut down its pre-production, Disney Channel’s “Bunk’d,” which paused its production, and ABC’s “Abbott Elementary,” which went dark after its writers’ room was set to reconvene for Season 3 pre-production in May.
- 5/10/2023
- by Loree Seitz
- The Wrap
” I ask for your patience as we develop a roadmap for this restructuring.”
In his first day back as Disney CEO after Sunday’s shock shuffle, Bob Iger has fired head of Disney Media & Entertainment Distribution (Dmed) Kareem Daniel and pledged a restructure “that honors and respects creativity as the heart and soul of who we are”.
While it was too soon for Iger to reveal details of the restructure, the returning CEO said a reorganisation of Dmed will be necessary as he asks senior lieutenants Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to design a new...
In his first day back as Disney CEO after Sunday’s shock shuffle, Bob Iger has fired head of Disney Media & Entertainment Distribution (Dmed) Kareem Daniel and pledged a restructure “that honors and respects creativity as the heart and soul of who we are”.
While it was too soon for Iger to reveal details of the restructure, the returning CEO said a reorganisation of Dmed will be necessary as he asks senior lieutenants Dana Walden, Alan Bergman, Jimmy Pitaro, and Christine McCarthy to design a new...
- 11/22/2022
- by Jeremy Kay
- ScreenDaily
Disney has previously revealed it has 500 shows in the pipeline outside of the U.S., but on Wednesday, the company broke down for the first time how those planned local-language programs are being dispersed throughout global regions.
According to Christine M. McCarthy, senior executive vice president and chief financial officer, 140 of those shows are in the works in the Asia/Pacific region, including Southeast Asia; 150 are in markets in Europe, West Asia and Africa; 100 are set up in India, and another 200 are being developed for Latin America audiences.
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Elsewhere on the call, CEO Bob Chapek was pressed by analysts on another international topic: Disney’s lack of traction in recent months with getting its movies approved for release in China. Noting that the latest MCU release — “Doctor Strange in the...
According to Christine M. McCarthy, senior executive vice president and chief financial officer, 140 of those shows are in the works in the Asia/Pacific region, including Southeast Asia; 150 are in markets in Europe, West Asia and Africa; 100 are set up in India, and another 200 are being developed for Latin America audiences.
Click here to sign up for Variety‘s free Strictly Business newsletter covering earnings, financial and investment news, and more.
Elsewhere on the call, CEO Bob Chapek was pressed by analysts on another international topic: Disney’s lack of traction in recent months with getting its movies approved for release in China. Noting that the latest MCU release — “Doctor Strange in the...
- 5/11/2022
- by Jennifer Maas
- Variety Film + TV
Disney CFO Christine McCarthy warned that carriage costs for pay-tv bundle Hulu + Live TV would drive an $800 million to $1 billion increase in streaming costs during the current quarter.
The internet-delivered TV package now had 4.3 million subscribers, the company revealed in its fiscal first-quarter results, and has increased the number of networks it offers customers. Disney+, meanwhile, is pursuing a years-long plan to boost offerings in pursuit of subscriber growth, while ESPN+ shoulders significant rights costs.
Along with the streaming increases, linear expenses “may impact our second quarter results,” McCarthy said.
Linear networks will see a roughly $500 million increase in programming and production costs, McCarthy predicted, blaming “factors including Covid-related timing shifts.” Disney’s networks also aired four additional NFL games at the start of the current quarter (a result of the league expanding its season), plus this year’s Academy Awards will be in March. The 2020 Oscars had slid back to April,...
The internet-delivered TV package now had 4.3 million subscribers, the company revealed in its fiscal first-quarter results, and has increased the number of networks it offers customers. Disney+, meanwhile, is pursuing a years-long plan to boost offerings in pursuit of subscriber growth, while ESPN+ shoulders significant rights costs.
Along with the streaming increases, linear expenses “may impact our second quarter results,” McCarthy said.
Linear networks will see a roughly $500 million increase in programming and production costs, McCarthy predicted, blaming “factors including Covid-related timing shifts.” Disney’s networks also aired four additional NFL games at the start of the current quarter (a result of the league expanding its season), plus this year’s Academy Awards will be in March. The 2020 Oscars had slid back to April,...
- 2/9/2022
- by Dade Hayes
- Deadline Film + TV
The Walt Disney Company has extended Christine M. McCarthy’s term as senior executive vice president and chief financial officer through June 2024.
Disney CEO Bob Chapek announced news of McCarthy’s contract extension on Tuesday, stating, “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,” Chapek’s statement continued. “Her expertise, judgment and relationships are true assets to the Company, and I am grateful to have her as a valued partner.”
The 22-year veteran of the Walt Disney Company has served as the entertainment giant’s CFO since 2015, with her previous contract set to expire at the end of 2022.
“It is an incredible privilege to serve as CFO of this great company, and I am thankful for the...
Disney CEO Bob Chapek announced news of McCarthy’s contract extension on Tuesday, stating, “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,” Chapek’s statement continued. “Her expertise, judgment and relationships are true assets to the Company, and I am grateful to have her as a valued partner.”
The 22-year veteran of the Walt Disney Company has served as the entertainment giant’s CFO since 2015, with her previous contract set to expire at the end of 2022.
“It is an incredible privilege to serve as CFO of this great company, and I am thankful for the...
- 12/21/2021
- by J. Kim Murphy and Angelique Jackson
- Variety Film + TV
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