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The Walt Disney Company revealed it has tapped a Pepsico veteran executive, Hugh Johnston, to be its new senior executive vice president and chief financial officer. The mass media and entertainment firm announced the appointment on Monday, Nov. 6.
As per Reuters, Johnston will take over the office in the finance unit on Dec. 4. He will be replacing Christine McCarthy who is set to officially step down from her CFO post in June 2024.
Pepsico Confirms Its CFO’s Departure
The newly-appointed CFO and SEVP of The Walt Disney Company is set to leave PepsiCo after working there for 34 years. For his last post in the beverage and snack manufacturing company, he has been leading the company’s finance division for more than a decade.
In a statement, Pepsico announced Johnston's departure and shared he is set to leave on Nov. 30. To fill in for the CFO role that he will vacate, the company appointed James Caulfield, the current senior vice president and CFO of Pepsico Foods North America, as replacement. The Pepsi soda maker further confirmed that the outgoing CFO is joining The Walt Disney Company following his exit this month.
Disney Welcomes Hugh Johnston to the Firm
The Wrap reported that Walt Disney’s CEO Bob Iger formally declared Johston as the next finance chief of the company this week. Once he assumes office, Johnston will be reporting directly to Iger. In his new role, he is expected to lead the firm’s finance organization worldwide including business development, corporate real estate, enterprise technology, corporate strategy, financial planning, risk management, treasury, tax, and more.
“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,” Disney CEO Iger said in a press release. “His expertise will serve Disney and its shareholders well as we continue the transformative work we are doing to drive growth and value creation.”
Photo by: The Walt Disney Press Release
