Hugh Johnston has been appointed as the senior executive vice president and chief financial officer of the Walt Disney Company, according to an announcement by CEO Bob Iger on Monday.
Johnston, who has had a distinguished 34-year career at PepsiCo, where he most recently held the roles of vice chairman and CFO, will now bring his expertise to Disney.
Johnston takes over from Christine McCarthy, who stepped down as Disney’s CFO in June to take family medical leave. McCarthy had been with the company for 23 years.
In his new role at Disney, Johnston will report directly to Iger and oversee the company’s global finance organization.
This includes responsibilities for 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 esteemed reputation as one of America’s top CFOs and his extensive leadership experience in both financial and operational roles with a broad range of leading global brands make him an ideal addition to Disney’s senior leadership team,” Iger stated.
“His skills will greatly benefit Disney and its shareholders as we advance our transformative efforts to drive growth and value creation.”
Iger also expressed appreciation for Kevin Lansberry, who served as interim CFO following McCarthy’s departure.
“Disney is an iconic company with some of the most cherished brands globally and a robust financial foundation that supports the future vision Bob and his team are developing,” Johnston remarked.
“Few companies have endured as long as Disney, making it both unique and extraordinary. I share Bob’s enthusiasm for Disney’s future and am thrilled to join the management team during this exciting period of opportunity and potential.”
Johnston has been PepsiCo’s CFO since 2010. This announcement comes ahead of Disney’s report on its fourth-quarter earnings, scheduled for Wednesday.
