Disney worked with McKinsey & Co. to restructure the company, WSJ reports

Walt Disney was recently working with consulting firm McKinsey & Co. in an effort to centralize control over major spending decisions, which caused an uproar among top creative executives, Robbie Whelan, Joe Flint, and Jessica Toonkel of The Wall Street Journal reports, citing people familiar with the matter. Disney’s Chief Financial Officer Christine McCarthy led the wide-ranging cost cutting efforts, which was accepted by the board of directors and former CEO Bob Chapek, the Journal’s sources said. McKinsey was hired back in September and was quick to interview senior executives, focusing on how the company marketed its content, people familiar with the matter told the Journal. One change McKinsey suggested was making decisions on spending on marketing and television centralized in another part of the company instead of in the hands of studio executives, the Journal’s sources added. McKinsey also suggesting consolidating tasks related to hiring, communications, and legal services, the sources added. McKinsey’s plans were not completed and it is not yet known whether current CEO Robert Iger will implement any of the recommendations, the sources said. Reference Link