Disney announced Monday that PepsiCo veteran Hugh Johnston will serve as the company’s new chief financial officer.
Johnston has been with PepsiCo for the last 34 years in various roles, including CFO since 2010. He will begin his new role on Dec. 4 and report directly to CEO Bob Iger.
"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.
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The Disney chief executive also thanked interim CFO Kevin Lansberry who took on the position in June when Christine McCarthy announced she was stepping down for a medical leave of absence.
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Johnston's new role at Disney will include overseeing the company's global business interests in corporate real estate, strategy and business development, enterprise controllership, technology, financial planning and analysis, global product and labor standards, security, investor relations, risk management, tax and treasury, the company said.
Meanwhile, PepsiCo said Jamie Caulfield will take over for Johnston. Caulfield is currently a senior vice president and CFO for PepsiCo Foods North America.
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Last month, PepsiCo raised its annual profit forecast again this year on inflation-related cost increases and resilient demand, saying it is now "well-positioned to adapt and execute in a dynamic consumer environment with trusted brands."
