BREAKING: The Walt Disney Company Names NEW Chief Financial Officer

The Walt Disney Company seems to be constantly making big changes.

The massive entertainment company is working its way out of a hole in terms of its stock prices. They have recently announced big plans for spending on their Parks, Experiences, and Products section. And with big plans comes the need for big-name executives who can help keep the company headed in the right direction. And now, Disney has named a new man for the financial oversight position.

If you’re working on financial issues within a multi-billion dollar company, you’re probably going to want people with lots of experience in that arena leading the charge. And that’s exactly what Disney must have been thinking when they named Hugh F. Johnston as Senior Executive Vice president and Chief Financial Officer of The Walt Disney Company.

Johnston has spent 34 years working for PepsiCo, most recently as Vice Chairman and Chief Financial Officer. The executive will be replacing the Interim Chief Financial Officer, Kevin Lansberry, who replaced Christine McCarthy who had stepped down earlier this year due to a family medical leave of absence.

As the next CFO, Johnston will, according to Disney,” report directly to CEO Bob Iger and will lead the company’s worldwide finance organization, which includes corporate real estate, corporate strategy and business development, enterprise controllership, enterprise technology, financial planning and analysis, global product and labor standards, global security, investor relations, risk management, tax, and treasury.”

Iger announced Johnston to the Walt Disney Company this morning and stated, “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.”

In response Johnston stated his enthusiasm for joining the 100-year-old company by adding, “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 held several positions at PepsiCo 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 Foods; and Senior Vice President, Mergers and Acquisitions, PepsiCo.

In their announcement, Disney added a variety of roles Johnston has played a part in, stating he “has been responsible for providing strategic financial leadership for PepsiCo, including ensuring the company’s strategy creates shareholder value, communicating the company’s strategies and performance to investors, and implementing a capital structure, financial processes and controls to support the company’s growth and return on investment goals.”

It sounds like Disney may have found the right person for the job to oversee all their financial decisions from here on. With multi-billion dollar experiences being announced for the company, we sure hope he’s ready to keep leading the beloved entertainment company in the right direction.

In the meantime, check back to AllEars for more Disney news!

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What do you think about this new appointment? Let us know in the comments!

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