Hugh Johnston, PepsiCo’s longtime finance chief, will take on the same role at Disney.
Disney's previous CFO, Christine McCarthy, stepped down earlier this year., will join the company as its new CFO, as the entertainment giant contends with a sagging share price and streaming losses.
Johnston has spent the last 34 years with PepsiCo, holding various positions at the food and beverage giant before becoming CFO in 2010.Sign up for NBC New York newsletters. "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 said in a statement."Very few companies have withstood the test of time that Disney has, making the company as rare as it is special.". Her resignation came amid the entertainment company's massive restructuring during Iger's second tenure as CEO, which began about a year ago.
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PepsiCo CFO leaves after 13 years, to become Disney’s CFOTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
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