Another C-level executive has exited The Walt Disney Company.
Disney CIO Diane Jurgens Leaves
On Friday (September 15), The Wall Street Journal reported that the company’s Chief Information Officer, Diane Jurgens, had quietly left Disney in early September. This is the second major Disney executive to exit the House of Mouse in the past three months (the first being Christine McCarthy, Chief Financial Officer).
— Jessica Toonkel (@jtoonkel) September 15, 2023
Jurgen’s departure, much like McCarthy’s, is causing many to wonder what exactly is going on behind the scenes at the Walt Disney Company. It’s no secret that the company has been struggling lately. After a year of underperforming films at the box office and ongoing legal battles with Florida Governor Ron DeSantis, the company has also seen its stock price drop to the lowest price in years (even worse than during COVID).
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A memo from the Walt Disney Company stated that a Senior Vice President, Diane Arnold, will fill in for the position temporarily.
CIO Diane Jurgens, has been at the helm of Disney’s enterprise technology organization since October 2020. Details behind the reason for her departure have not yet been disclosed.
However, in a farewell email to her colleagues in August, Jurgens said she was stepping away “to pursue new adventures.”
Disney Corporate Problems?
This latest shuffle of Disney leadership also comes after Kareem Daniel, the right hand to former Disney CEO Bob Chapek, left shortly after Bob Iger’s return and the company’s Chief Diversity Officer Latondra Newton exit.
While people often come and go in the corporate world, this is an unusual trend that doesn’t help Disney’s image. In an industry where all eyes are watching, the departure of high-level executives in a short window is a concerning development that may further lower the company’s stock price.
It also makes one wonder what the company’s board will look like in a few years.