by Ray Keating
News
DisneyBizJournal.com
November 6, 2023
The Walt Disney Company announced this morning that Hugh Johnston, 62 years old, was appointed Senior Executive Vice President and Chief Financial Officer effective December 4.
Currently, Johnston serves as Vice Chairman and Chief Financial Officer of PepsiCo. He has served in a variety of roles at Pepsi since 1987, except for a brief stint at Merch, and has been the PepsiCo CFO since 2010.
Disney CEO Bob 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.”
Johnston was quoted in the Disney statement: “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.”
Reactions in the market to the announcement seem to be positive, as Johnston is well-respected.
Disney had announced in June that the previous CFO, Christine McCarthy, would be leaving.
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Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.
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