Christine McCarthy, Senior Executive Vice President and Chief Financial Officer, The Walt Disney Company, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California.Christine McCarthy, Disney's chief financial officer, will step down from that role, the entertainment giant said Thursday.
She will take a family medical leave of absence and during that time continue as a strategic advisor to, the company said. McCarthy will also help find a long-term successor, Disney added. Kevin Lansberry, the finance chief for Disney's parks business, will work as the company's interim CFO effective July 1.
McCarthy departs as the Disney undergoes a broad restructuring during Bob Iger's second tenure as CEO. The company has targeted 7,000 job cuts during several rounds of layoffs this year. Disney has also contended with a tougher ad market for media companies and struggled to set itself apart in a crowded streaming space. In its fiscal second quarter, Disney reported operating losses of $659 million for its direct-to-consumer segment.