Investing.com -- Walt Disney Company (NYSE:DIS) announced on Tuesday that Christine McCarthy will become the company's first-ever female chief financial officer, marking the highest position ever attained by a female executive in the 91 years of the company.
McCarthy, who previously served as Disney's Executive Vice President and Treasurer, will succeed Jay Rasulo. Following the announcement, shares in Disney rose 1.09 or 0.96% to 114.14. Disney ended Tuesday's session as the top performer on the Dow Jones Industrial Average.
“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,” Disney CEO Robert Iger said in a statement. “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.”
Before joining Disney, McCarthy served as the CFO at Imperial Bancorp for a period of four years from 1997 to 2000. McCarthy, who received an MBA in Marketing and Finance from UCLA and a bachelor's degree from Smith College, held various finance positions at First Interstate Bancorp from 1981-1996. In 1993, McCarthy was elected Executive Vice President in Finance for First Interstate.
McCarthy has also been named to Treasury & Risk magazine's "100 Most Influential People in Finance" on multiple occasions.
“I am humbled and honored to be entrusted with the role of CFO of this incredibly dynamic company,” 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.”
McCarthy has also been named to Treasury & Risk magazine's "100 Most Influential People in Finance" on multiple occasions.
Also on Tuesday, Disney's ban on selfie sticks at all of its theme parks went into effect at popular locations such as Disneyland in Southern California and Magic Kingdom Park in Central Florida. Last week, officials at Disney California Adventures were forced to shut down its California Screaming rollercoaster for two hours after a passenger pulled out a selfie stick while the ride was still moving, the Orange County Register reported.