Copyright The Hollywood Reporter
The Walt Disney Co. has given one of its top executives a contract extension. Hugh Johnston, the CFO of Disney, has inked a new deal that will keep him at the entertainment giant through Jan. 31, 2029. Johnston joined Disney from PepsiCo in Nov. 2023, succeeding the company’s longtime CFO Christine McCarthy. At Disney, Johnston has been a public face of the company, not only answering questions alongside CEO Bob Iger on earnings calls, but also representing the company on CNBC and at investor events. Johnston is the third top Disney executive to extend their contract in recent weeks, following communications chief Kristina Schake and Horacio Gutierrez, the company’s senior executive vp and chief legal and compliance officer. The extensions come as the Disney board is closing in on its self-imposed date to find a successor to Iger, with early 2026 cited as the current timeframe. Locking in the senior executive team can provide some stability within the company in conjunction with that looming decision. Johnston is seen as a favorite of Wall Street, and while he does not have a en entertainment background, his previous roles as president of PepsiCo’s North American division, and senior vp of transformation at the food and beverage company, gave him ample time with analysts and investors. His new contract keeps his salary and annual target bonus unchanged at $2 million and $4 million, but raises his long-term equity incentive annual award value to $16,500,000.
