UPDATED with Chapek statement: Christine McCarthy, the Senior EVP and Chief Financial Officer at Disney, has extended her contract with the company until the end of 2022, Disney said in a regulatory filing Monday. It comes as she has been a key communicator with Wall Street about Disney’s streaming pivot and efforts to manage through the Covid-19 crisis.
The new deal amends her previous contract which was set to expire on June 30, 2021.
The extension means that “for each full fiscal year during the term hereof, Executive shall receive an annual award with a target award value (which value shall be as determined in accordance with the policies and practices generally of Company) of $11,000,000,” according to the 8-K form filed today with the U.S. Security and Exchange Commission.
“The company and its shareholders will greatly benefit from Christine’s continued leadership and experience as we accelerate our direct-to-consumer strategy and continue to navigate through the unique challenges of the COVID-19 pandemic, and we are thrilled that she has agreed to extend her tenure,” Disney CEO Bob Chapek said later Monday.
At Disney, she oversees the company’s worldwide finance organization, which includes brand and franchise management, corporate alliances, corporate real estate, corporate strategy, enterprise controllership, enterprise social responsibility, enterprise technology, financial planning and analysis, global product and labor standards, investor relations, risk management, tax and treasury.
McCarthy took on the CFO role in July 2015 after serving EVP Corporate Real Estate, Alliances and Treasurer since 2020, when she joined Disney from Imperial Bancorp where she was EVP and CFO.
Dade Hayes contributed to this report.
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