In this undated photo provided by The Walt Disney Company, company treasurer Christine McCarthy poses for a photo in Burbank, Calif. (Holly Brobst/Disney via AP)
BURBANK, Calif. (AP) --
Disney named its treasurer, Christine McCarthy, as its new chief financial officer, replacing Jay Rasulo, a longtime executive who announced he was resigning earlier this month after it became apparent he would not likely be elevated to CEO.
The Walt Disney Co. also promoted Kevin Mayer to the newly created position of chief strategy officer, a nod to his deep involvement in the purchase of blockbuster studios Pixar, Marvel and Lucasfilm. He was previously executive vice president of corporate strategy and business development.
McCarthy, who had been treasurer for 15 years, will report directly to CEO Bob Iger. Mayer will report to both Iger and Chief Operating Officer Tom Staggs.
Staggs is widely believed to be in line to replace Iger as CEO when he steps down in 2018.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion … could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
