The Wall Street Journal reports today that the Walt Disney Company hired consulting firm McKinsey & Co. to spearhead wide-ranging cost-cutting measures.
Allegedly, Disney's Chief Financial Officer Christine McCarthy was in charge of the effort, backed by the board and then CEO, Bob Chapek.
The report suggests that the initiative created an uproar amongst creative executives at Disney, who feared that decisions about marketing and promotion of movies would be taken out of their hands.
If the plans went ahead, it was possible that both creative and marketing budgets would be under the control of Chapek's top ally, the now-departed Kareem Daniel.
With Chapek now gone, it isn't clear whether returning CEO Bob Iger will use any of the consultant's recommendations. However, the report highlights signs of significant problems at the company as far back as September 2022.
You can read the full article online at WSJ.
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