The Walt Disney Company has finally found a replacement for Christine McCarthy as the Disney CFO. They just named Hugh Johnston, from PepsiCo, as the new Senior Executive Vice President and Chief Financial Officer. He will start his position with Disney on December 4, 2023.
Johnston has worked with Pepsi Co. for many years, according to the Disney press release. He joined PepsiCo in 1987, and has held a variety of roles, including “Executive Vice President, Global Operations, PepsiCo; President, Pepsi-Cola North America; Senior Vice President, Transformation, PepsiCo; Senior Vice President and Chief Financial Officer, PepsiCo Beverages and Foods; and Senior Vice President, Mergers and Acquisitions, PepsiCo. Johnston also served as Vice President, Retail at Merck & Co. from 1999 until 2002, when he rejoined PepsiCo.”
He was made the CFO of PepsiCo in 2010 until now, when he will be joining the Walt Disney Company.
Johnston will report to Disney CEO, Bob Iger.
“As Disney’s Chief Financial Officer, Johnston will report directly to Iger and will lead the company’s worldwide finance organization, which includes corporate real estate, corporate strategy and business development, enterprise controllership, enterprise technology, financial planning and analysis, global product and labor standards, global security, investor relations, risk management, tax, and treasury.”
Bob Iger offered these comments on Johnston:
“Hugh’s well-earned reputation as one of the best CFOs in America and his wealth of leadership experience in both financial and operational roles overseeing a diverse portfolio of top global brands make him a perfect addition to Disney’s senior leadership team. His expertise will serve Disney and its shareholders well as we continue the transformative work we are doing to drive growth and value creation.
I would also like to extend my sincere gratitude to Kevin Lansberry, who stepped into the CFO role on an interim basis earlier this year. Kevin has provided steady leadership and invaluable counsel to our executive management team, and he will continue to be one of our company’s most important financial leaders as he returns to his role as CFO of our Disney Experiences segment.”
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Source: Walt Disney Company Press Release
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