Disney Appoints PepsiCo Finance Chief Hugh Johnston as New CFO

Disney has hired Hugh Johnston, the longtime chief financial officer of PepsiCo, as its new CFO. Johnston, who has spent 34 years with PepsiCo, will join Disney on December 4 and report directly to CEO Bob Iger. The move comes as Disney faces challenges with a declining share price and losses in its streaming business. The company is also undergoing a massive restructuring and is contemplating transformative transactions, including potentially selling ABC and seeking strategic partners for ESPN. Disney is under pressure from activist investor Nelson Peltz, who has increased his stake in the company and plans to push for multiple seats on the board.