Treasurer Christine McCarthy has been named as Disney's Chief Financial Officer, replacing the resigning Jay Rasulo. Kevin Mayer has been named Chief Strategy Officer of the company. The announcements were made by Disney CEO Bob Iger.
"[Christine McCarthy] is highly respected in the finance sector, and in this new role she will have even more impact on creating value for Disney shareholders," Iger said in a statement.
"With this promotion to the new role of Chief Strategy Officer [Kevin Mayer] will continue to focus on growth opportunities and help position the company for the future," Iger added.
Additionally, Disney announced on Monday that it is combining two of its businesses, consumer products and interactive, into a single operating unit.
"As technology and digital entertainment continue to evolve, a shared innovation strategy will enable this new segment to create unique and engaging products and experiences that exceed consumers' expectations," Disney COO Tom Staggs said in a statement.
Staggs is believed by many to be in line to replace Bob Iger when he steps down in 2018, the Associated Press reports.
Separately, TheStreet Ratings team rates DISNEY (WALT) CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISNEY (WALT) CO (DIS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."