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Disney Hires ex-PepsiCo Chief Hugh F. Johnston as CFO

Date: 2023-11-09

Disney Hires ex-PepsiCo Chief Hugh F. Johnston as CFO

The Walt Disney Company has announced ex-PepsiCo chief Hugh F. Johnston as their Executive Vice President and Chief Financial officer, from December. By: Dylan Low

He takes the role of former CFO Christine McCarthy who departs Disney after 23 years at the company over family commitments, and passing the responsibilities of interim CFO, Kevin Lansberry.

Johnston will report to Disney CEO Bob Iger, who leads the organisation’s financial operations. This comprises corporate real estate, corporate strategy and business development, enterprise controllership, enterprise technology, financial planning and analysis, global product and labour standards, global security, investor relations, risk management, tax, and treasury.

The new Disney CFO has had 34 years of experience at PepsiCo, where he did multiple senior roles such as Executive Vice President of Global Operations, President of Pepsi-Cola North America; SVP of Transformation and Senior Vice President.

He was labelled as CFO of PepsiCo in 2010, taking up responsibility for providing strategic financial leadership to date. He has served as Vice-President at Merck & Co from 1999 to 2002, before going back to PepsiCo. Johnston is also a board member and chairperson of the audit committee in Microsoft Corp.

“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,” stated Iger.

“His expertise will serve Disney and its shareholders well as we continue the transformative work we are doing to drive growth and value creation.”

Johnson commented on his new position, “Disney is such a storied company, with the most beloved brands in the world and a strong financial foundation to support the company of the future that Bob and his team are building,

“Very few companies have withstood the test of time that Disney has, making the company as rare as it is special. I share Bob’s enthusiasm for Disney’s future, and I am incredibly excited to join this management team in this moment of opportunity and possibility.”

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