Is This a Warning Sign for Disney Stock?

Walt Disney (NYSE: DIS) continues to deal with drama worthy of one of its action-packed films. The latest development is the announcement that longtime CFO Christine McCarthy is leaving the company. That means Disney is now searching for a new CEO and a new CFO at the same time. For already-exhausted Disney shareholders, is this a warning sign?

Disney shareholders haven't had an easy time since the pandemic started. After the parks completely shutdown for several months -- provoking a suspension of the stock's dividend -- the streaming business has been posting huge losses. To add fuel to the fire, the board ousted CEO Bob Chapek, who'd only been in the top job for about a year, and brought back popular former CEO Bob Iger.

Throughout all of this, and through a 23-year tenure, CFO Christine McCarthy has been an executive anchor. According to The Wall Street Journal, she helped bring about the ouster and held strong authority at Disney. She was also instrumental in bringing back Iger.

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Source Fool.com