Christine M. McCarthy named Chief Financial Officer and Kevin Mayer named Chief Strategy Officer of The Walt Disney Company

Jun 30, 2015 in "The Walt Disney Company"

Posted: Tuesday June 30, 2015 2:30pm EDT by WDWMAGIC Staff

The Walt Disney Company has today named Christine M. McCarthy Chief Financial Officer and Kevin Mayer Chief Strategy Officer of The Walt Disney Company.

“Christine has done an incredible job as Disney’s Treasurer over the past 15 years, and her strong leadership and keen financial acumen make her an ideal Chief Financial Officer,” Robert A. Iger, Chairman and Chief Executive Officer said. “She is highly respected in the finance sector, and in this new role she will have even more impact on creating value for Disney shareholders.” Ms. McCarthy will report directly to Mr. Iger.

“Kevin has overseen Corporate Strategy and Business Development at a time of unprecedented growth for Disney, playing an integral role in our successful acquisitions of Pixar, Marvel and Lucasfilm,” Mr. Iger said. “With this promotion to the new role of Chief Strategy Officer he will continue to focus on growth opportunities and help position the company for the future.” Mr. Mayer, who previously reported to the Chief Financial Officer, will jointly report to Mr. Iger and Thomas O. Staggs, Chief Operating Officer.

As CFO, Ms. McCarthy will now oversee Investor Relations, Corporate Planning and Control, Tax, Corporate Treasury, Corporate Real Estate, Facilities, Integrated Supply Chain Management, and Corporate Citizenship. She succeeds James A. Rasulo as CFO.

“I am humbled and honored to be entrusted with the role of CFO of this incredibly dynamic company,” Ms. McCarthy said. “Under Bob’s leadership, Disney has delivered record results, and I look forward to working with our talented senior management team as we build on the company’s financial strength and strong balance sheet to deliver shareholder value.”

In Ms. McCarthy’s most recent role as Executive Vice President, Corporate Real Estate, Alliances and Treasurer, she developed a finance team responsible for treasury, corporate finance, capital markets, financial risk, international treasury and investments, credit, and risk management.

Mr. Mayer has served since 2005 as Executive Vice President, Corporate Strategy and Business Development, and in his new role as Chief Strategy Officer he will oversee Corporate Strategy, Business Development, Acquisitions, Enterprise Information Technology, Innovation, Brand and Franchise Management, and Global Corporate Alliances.

“I'm extremely gratified to be given this opportunity to further expand Disney’s assets and businesses,” Mr. Mayer said. “Disney’s growth has been incredible these past several years, and I am proud of the role my group has played in facilitating that expansion and excited by the strategic opportunities that lie ahead for the company.”

In 2009 and 2011, readers of The Deal named Disney the Most Admired Corporate Dealmaker in the consumer sector.

Mr. Mayer rejoined Disney from L.E.K. Consulting LLC, where he was a partner and head of the Global Media and Entertainment practice. Prior to L.E.K., Mr. Mayer held leading positions at interactive and Internet businesses, including chairman and CEO of Clear Channel Interactive, where he managed all aspects of new media business, including content, sales, business and technology development, and distribution.

Mr. Mayer first joined Disney in 1993 as Manager, Strategic Planning, where he spearheaded strategy and business development for all of Disney's interactive/Internet and television businesses worldwide. Later, he became Executive Vice President of the Internet group, responsible for the operations, business plans, creative direction and distribution of Disney's popular Web sites, including ESPN.com and ABCNews.com. Mr. Mayer received his M.B.A. from Harvard University in 1990, and holds a M.S.E.E. from San Diego State University and a B.S.M.E. from Massachusetts Institute of Technology.

Ms. McCarthy has served as Disney’s representative on the board of FM Global since 2010. She is also a Trustee of the Westridge School for Girls in Pasadena, Calif., and a mentor for the National Math and Science Initiative’s STEM program. She has been named multiple times to Treasury & Risk magazine’s “100 Most Influential People in Finance,” and in June, 2015 she was named Treasury Today magazine’s Woman of the Year, one of the profession’s most highly regarded benchmarks.

Prior to joining Disney, Ms. McCarthy was the Executive Vice President and Chief Financial Officer of Imperial Bancorp from 1997 to 2000. She held various finance and planning positions at First Interstate Bancorp from 1981 to 1996, and was elected Executive Vice President in Finance for First Interstate in 1993. Ms. McCarthy completed her Bachelor’s Degree in Biological Sciences at Smith College, where she received an award for excellence in botany, and later earned an MBA in Marketing and Finance from the Anderson School at UCLA.

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Darth SidiousJul 01, 2015

I think Strategic Planning never went away, it just previously reported to Jay. Now it reports directly to Staggs and Iger. Essentially they removed some responsibility from the CFO role prior to naming McCarthy the CFO.

PhotoDave219Jul 01, 2015

Well, she's didnt come up through the SPG like a majority of the upper level leadership.... New Blood as in she's not from THAT part of Disney.

MerlinTheGoatJul 01, 2015

The CFO isn't "new blood", she has been with Disney since 2000 I think.

betty roseJul 01, 2015

Thanks for clearing this up for me. I'm glad to see some "new blood".

PhotoDave219Jul 01, 2015

Er, to be clear... I'm criticizing the Strategy Officer hire, not the CFO. I like the CFO hire and havent heard her name before. I dont know anything about her and she looks like she's independent of any real politics in the company. She also has a botany degree.

betty roseJul 01, 2015

I'm sorry to hear the history, I was hoping for something different, balancing creativity and insane bonus's for CFO.

PhotoDave219Jul 01, 2015

I get that but its the same names and faces that burned us once before..... Strategic Planning - when done right - is a great thing. Strategic Planning - when done the way Eisner/Murphy did it - is AWFUL.

Darth SidiousJul 01, 2015

My last sentence references TWDC... In general though these groups shouldn't be an absolute horror.

PhotoDave219Jul 01, 2015

We know. Its a business, trust me, we get it. Its just that the same people - who darn near ruined the company - cant seem to get out of a leadership role..... They can screw up (like a $5.2B family channel deal, or the Go.Com deal or ruining Eli Roth at the Studios) yet they continue to have a place with the company. Same people who alienated Roy Disney. Same people who alienated Marty Sklar. Just frustrating. Strategic Planning seems to once again be the juggernaut power center that runs the company once again.....

JWGJul 01, 2015

This may not be bad, but we also have to remember that parks and resorts is only one small part of a much larger organization so not everything can be about the parks.

BrerJonJul 01, 2015

DHS 2.0 will get built, but that's only half the story - good luck getting any money for maintenance or staffing whatever we get. Strategic Planning, like most accountants and bean-counters, revels in giving guests a bad experience in the name of saving pennies, so you can expect about six months of great operation after launch then the cutback axe will swing and people will wonder what happened when maintenance slips and paint starts to peel. What will have happened is Strategic Planning getting stuck in to things.

PhotoDave219Jul 01, 2015

Or one just stays.... Rasulo managed to survive and stay even after he was forced out.

jt04Jun 30, 2015

Hoping that (if you are right) getting DHS 2.0 approved will make it largely untouchable. Surely DCA 2.0, Carsland, Potter 1 and 2, and DAK 2.0 will prove both that spending money makes money and that the central Florida market has plenty of growth potential. ~common sense~

shernernumJun 30, 2015

You mean two men enter, one man stays. The other leaves with a golden parachute.