Johnston has replaced interim CFO Kevin Lansberry, who will return to his position as EVP and CFO of Disney’s Experiences segment.
The Walt Disney Company has named Hugh F. Johnston as Senior Executive Vice President and Chief Financial Officer, with his new role taking effect on December 4. Johnston, who currently serves as Vice Chairman and Chief Financial Officer of PepsiCo, brings a wealth of experience from his 34-year career with the multinational food and beverage giant.
In his new position at Disney, Johnston will report directly to Robert A. Iger, Chief Executive Officer, and will head the company’s global finance organisation. This includes overseeing functions such as 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.
Speaking about the new appointment, Iger said: “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.
Iger added: “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.”
Johnston stated: “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.”
Hugh F. Johnston joined PepsiCo in 1987 and has held various leadership roles throughout his career. His positions have included Executive Vice President of Global Operations, President of Pepsi-Cola North America, Senior Vice President of Transformation, Senior Vice President and Chief Financial Officer of PepsiCo Beverages and Foods, and Senior Vice President of Mergers and Acquisitions, among others.
Johnston assumed the role of CFO of PepsiCo in 2010, where he played a pivotal role in providing strategic financial leadership and ensuring the company’s growth and return on investment goals were met. He has been responsible for creating shareholder value, communicating the company’s strategies and performance to investors, and implementing financial processes and controls to support PepsiCo’s growth.
Additionally, Hugh F. Johnston serves as a board member and chairs the audit committee of Microsoft Corp. He also sits on the board and chairs the audit committee of HCA Healthcare and serves as a director for the Peterson Institute for International Economics, a leading global economic think tank.