And on Nov. 20, the company announced CEO Bob Chapek had been replaced by former CEO, Bob Iger, who would be returning to the role less than three years after Chapek had taken over. During the entertainment company’s 4th quarter earnings call two weeks ago, CFO Christine McCarthy spoke to the struggling media and entertainment distribution arm. Since the launch of Disney+, the streaming business has lost more than $8 billion, according to WSJ.com. McCarthy had expressed a lack of confidence in Chapek to the Disney board of directors, according to WSJ.com. McCarthy has held the CFO title since 2015, which made her the highest-ranking woman in the history of Disney.

Source: Wall Street Journal November 22, 2022 20:14 UTC