The Walt Disney Company (NYSE:DIS) announced on Monday that Hugh Johnston will become its new chief financial officer (CFO) and senior executive vice president effective December 4.
Johnston is currently vice chairman and CFO of PepsiCo (NASDAQ:PEP), where he has held numerous leadership positions during his 34-year career with the multinational food and beverage giant.
Johnston will report directly to Disney CEO Robert 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.
"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," Iger said in a statement.
Johnston also currently serves as a member of the board and chair of the audit committee of Microsoft Corp, and as a member of the board and chair of the audit committee of HCA Healthcare.
Shares of Disney edged 0.4% higher to $85.40 in early Monday trading but have fallen 4% year to date.
Contact Sean at sean@proactiveinvestors.com