Disney names Hugh Johnston as CFO amid potential board battle

Disney has announced that Hugh Johnston, a top executive at PepsiCo, will be joining the company as its new chief financial officer. The appointment comes at a critical time for Disney, as it faces an activist campaign from investment firm Trian Fund Management.

Johnston, who has been CFO at PepsiCo since 2010, will officially take on his new role at Disney on December 4th. With his extensive leadership experience and excellent reputation, he is seen as a valuable addition to Disney's senior leadership team.

Disney CEO Bob Iger expressed confidence in Johnston, stating, "Hugh's well-earned reputation as one of the best CFOs in America and his wealth of leadership experience make him a perfect addition to Disney." Iger's leadership could certainly benefit from the support as the company deals with the activist campaign.

Investors will be closely watching Disney's upcoming fiscal fourth-quarter earnings report, with particular attention on the performance of the Disney+ streaming service and the company's theme parks. The recent price increases in these businesses have raised expectations for positive results.

Following Johnston's departure, Jamie Caulfield, who currently serves as CFO for PepsiCo Foods North America, will assume the role of CFO at PepsiCo.

It remains to be seen how these recent developments will impact the future of both Disney and PepsiCo. As the battle for board seats heats up, the market will be closely monitoring their performance.