PEP PepsiCo Inc

By Colin Kellaher

Walt Disney has named Hugh Johnston senior executive vice president and chief financial officer, plucking the finance executive from snacks and beverage giant PepsiCo.

Disney on Monday said Johnston, 62 years old, will join the Burbank, Calif., entertainment titan on Dec. 4 after spending more than three decades with PepsiCo, where he has been chief financial officer since 2010.

PepsiCo said Johnston, who joined the company in 1987 and has also been vice chairman since 2015, is retiring on Nov. 30.

PepsiCo said James Caulfield, who currently serves as finance chief for its PepsiCo Foods North America arm, will become executive vice president and chief financial officer of the Purchase, N.Y., company.

Disney in June announced that Christine McCarthy, its previous chief financial officer, was leaving to take a medical absence. Kevin Lansberry, chief financial officer of Disney Parks, Experiences & Products, has been serving as interim finance chief.

Disney said Johnston will receive an annual salary of $2 million and annual bonus with a target of at least 200% of his base pay.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 06, 2023 09:29 ET (14:29 GMT)

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