Hugh Johnston, vice chairman and chief financial officer at Pepisco Inc. (NASDAQ: PEP) is leaving the Purchase-headquartered company on Nov. 30 to join The Walt Disney Co. (NYSE:DIS) as CFO.
Johnston retires from PepsiCo after 34 years with the company; he served as CFO since 2010 and held different responsibilities over the years, including President of Pepsi Cola North America.
“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,” said Disney CEO Bob Iger. “His expertise will serve Disney and its shareholders well as we continue the transformative work we are doing to drive growth and value creation.
“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. “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.”
Johnston will be replaced by Jamie Caulfield, who will take on the title of executive vice president and CFO for PepsiCo. Caulfield is currently senior vice president and CFO for PepsiCo Foods North America.
“We are fortunate to have someone of Jamie’s caliber and experience already within PepsiCo today and ready to take on the role,” said Ramon Laguarta, chairman and CEO. “His experience within the company is as deep as it is broad and he has touched all aspects of our business in the last 30 years. The continuity which Jamie will bring to the high-performing Finance function, coupled with his relentless attention to detail and commitment to PepsiCo, is evidence that we have the right person for the job. I could not be more pleased to be announcing Jamie’s appointment today.”
