The Walt Disney Co. recently selected Hugh Johnston to serve as its Senior Executive Vice President and Chief Financial Officer, effective Dec. 4. Johnston will join The Walt Disney Co. after holding several positions over three decades at PepsiCo, including Vice Chairman and Chief Financial Officer.
In his new role, Johnston will report directly to Chief Executive Officer Robert Iger and will lead the company’s worldwide finance organization. This includes enterprise controllership and technology, global security, global product and labor standards, investor relations, risk management, tax, treasury, financial planning and analysis, corporate strategy and business development, and corporate real estate.
“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 says. “His expertise will serve Disney and its shareholders well as we continue the transformative work we are doing to drive growth and value creation.”
“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,” Iger says. “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.”
As Chief Financial Officer of PepsiCo, a role Johnston has held since 2010, he was responsible for providing strategic financial leadership for the company. This included ensuring the company’s strategy creates shareholder value, communicating strategies and performance to investors, and implementing a capital structure, financial processes, and controls to support company growth and return on investment goals.
Since joining PepsiCo in 1987, Johnston has held numerous roles including Executive Vice President, Global Operations, PepsiCo; President, Pepsi-Cola North America; Senior Vice President, Transformation, PepsiCo; Senior Vice President and Chief Financial Officer, PepsiCo Beverages and Food; and Senior Vice President, Mergers and Acquisitions, PepsiCo. Johnston also served as Vice President, Retail at Merck & Co. from 1999 until 2002, when he rejoined PepsiCo.
“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,” Johnston says. “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.”
