Christine McCarthy
{{Short description|American businesswoman}}
{{For|the American actress|Christine Elise McCarthy}}
{{Infobox person
| name = Christine McCarthy
| image =
| birth_name =
| birth_date =
| birth_place = United States
| death_date =
| death_place =
| nationality = American
| occupation = Business
| party =
| successor =
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| spouse =
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| module = {{Infobox officeholder | embed = yes
| office1 = The Walt Disney Company
| title1 = CFO
| term_start1 = June 30, 2015
| term_end1 = June 30, 2023
| predecessor1 = Jay Rasulo
| successor1 = Kevin Lansberry
| office2 = Imperial Bancorp
| title2 = CFO and executive vice president
| term_start2 = 1981
| term_end2 = 1996
}}
}}
Christine McCarthy is an American businesswoman and the former chief financial officer (CFO) of The Walt Disney Company.{{cite web|last1=Tharakan|first1=Anya George|title=Disney names treasurer Christine McCarthy as CFO|url=https://www.reuters.com/article/us-walt-disney-managementchanges-cfo-idUSKCN0PA2JD20150630|publisher=Reuters|accessdate=1 July 2015}}
Education
McCarthy graduated from Smith College with a bachelor's degree in biology.{{cite news|last1=Palmeri|first1=Chris|title=Disney Promotes Christine McCarthy as First Female CFO|url=https://www.bloomberg.com/news/articles/2015-06-30/disney-names-treasurer-christine-mccarthy-as-new-finance-chief|accessdate=1 July 2015|publisher=Bloomberg|date=30 June 2015}} She also earned an MBA in marketing and management from the Anderson School of Management at UCLA.
Career
Before joining Disney, McCarthy worked in the banking industry. From 1981 to 1996, McCarthy worked at First Interstate Bancorp in several finance and planning positions. She served as CFO and an executive vice president for Imperial Bancorp from 1997 to 2000.
In 2000, she became treasurer of Disney.{{cite news|last1=Lieberman|first1=David|title=Disney Taps Christine McCarthy To Be CFO, And Kevin Mayer As Chief Strategy Officer|url=https://deadline.com/2015/06/disney-picks-christine-mccarthy-cfo-kevin-mayer-chief-strategy-officer-1201464633/|accessdate=2 July 2015|publisher=Deadline Hollywood|date=30 June 2015}} On June 30, 2015, McCarthy was appointed as the CFO of The Walt Disney Company replacing Jay Rasulo under a four-year contract with a base salary of $1.25 million with a potential 200% performance based bonuses and 250% long term incentive award.
On December 21, 2021, Disney announced they had renewed McCarthy's contract as CFO through 2024.{{cite news|last1=Weprin|first1=Alex|title=Disney CFO Christine McCarthy Extends Contract Into 2024|url=https://www.hollywoodreporter.com/business/business-news/disney-cfo-christine-mccarthy-contract-2024-1235066188/amp/|accessdate=21 December 2021|publisher=The Hollywood Reporter|date=21 December 2021}} On June 15, 2023, Disney announced that McCarthy will be "stepping down from her CFO role" due to family concerns and named Kevin Lansberry as her interim replacement. McCarthy will stay on as a Strategic Advisor after stepping down as CFO on June 30."{{Cite web |date=2023-06-15 |title=BREAKING: Christine McCarthy Stepping Down as Disney CFO - WDW News Today |url=https://wdwnt.com/2023/06/breaking-christine-mccarthy-stepping-down-as-disney-cfo/ |access-date=2023-06-15 |website=wdwnt.com |language=en-US}}
= Controversies =
In 2021, she faced controversy when she suggested cutting food portion sizes at Disney's theme parks would benefit overweight Disney guests.{{Cite web |last=SFGATE |first=Katie Dowd |date=2021-11-11 |title=Disneyland fans angered by exec's 'fat shaming' comment |url=https://www.sfgate.com/disneyland/article/Disney-fans-angered-by-CFO-comment-16613190.php |access-date=2021-11-13 |website=SFGATE |language=en-US}}
In 2022, the Disney board unexpectedly dismissed CEO Bob Chapek, replacing him with his predecessor Bob Iger on an interim basis. The Wall Street Journal reported that McCarthy played a key role in the dismissal by raising concerns with the board.{{Cite news |last1=Whelan |first1=Robbie |last2=Glazer |first2=Emily |last3=Flint |first3=Joe |last4=Toonkel |first4=Jessica |date=November 21, 2022 |title=Walt Disney CFO, Others Brought Concerns to Board Over Bob Chapek |work=The Wall Street Journal |url=https://www.wsj.com/articles/walt-disney-cfo-others-brought-concerns-to-board-over-bob-chapek-11669072222 |access-date=July 14, 2023}} News reports later identified her as a likely successor to Iger, though she later stepped down from the company.{{Cite news |last1=Goldsmith |first1=Jill |last2=Patten |first2=Dominic |date=December 6, 2022 |title=Disney's Christine McCarthy Emerges As Top CEO Contender To Succeed Bob Iger; CFO Was King Killer Who Took Down Bob Chapek |work=Deadline |url=https://deadline.com/2022/12/disney-bob-iger-christine-mccarthy-ceo-successor-bob-chapek-1235190043/ |access-date=July 14, 2023}}
Philanthropy
McCarthy is a trustee for the Westridge School (Pasadena).{{cite news|last1=Rainey|first1=James|title=Christine McCarthy Named New Disney Chief Financial Officer|url=https://variety.com/2015/film/news/christine-mccarthy-new-disney-cfo-1201531636/|accessdate=2 July 2015|magazine=Variety|date=30 June 2015}} She is also a mentor for the National Math and Science Initiative.
Awards
References
{{Reflist}}
External links
- [https://thewaltdisneycompany.com/about-disney/leadership/corporate-management-team/christine-mccarthy Profile page] {{Webarchive|url=https://web.archive.org/web/20150914230404/https://thewaltdisneycompany.com/about-disney/leadership/corporate-management-team/christine-mccarthy |date=2015-09-14 }} at The Walt Disney Company
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{{s-bus}}
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{{s-vac|unknown}}
{{s-ttl|title= Treasurer of Disney Co.|years= 2000–2015}}
{{s-aft|after=Jonathan S. Headley}}
{{s-bef|before=Jay Rasulo}}
{{s-ttl|title=CFO of Disney Co.|years=2015–2023}}
{{s-aft|after=Kevin Lansberry}}
{{s-end}}
{{Disney}}
{{DEFAULTSORT:McCarthy, Christine}}
Category:American chief financial officers
Category:UCLA Anderson School of Management alumni