House of Mouse hangs onto its CFO

Let it go? Not if you’re Disney. The entertainment giant has convinced its CFO to stick around.

The company has extended CFO Hugh Johnston’s contract, originally slated to end in December 2026, through January 2029, Reuters reported. Johnston joins head of communications Kristina Schake, Chief Legal and Compliance Officer Horacio Gutierrez, and Chief People Officer Sonia Coleman, who’ve also recently had their contracts extended. Disney is seeking a new CEO to replace Bob Iger, who will retire in late 2026, and hanging onto key leadership should help provide continuity.

Johnston came to Disney in 2023 after 34 years at PepsiCo, where he served as CFO, as well as president of the sodamaker’s North America division and its SVP of transformation. At Disney, he’s assisted Iger in a major restructuring that split the company into three divisions: Disney Entertainment; ESPN; and Disney Parks, Experiences, and Products. The restructuring plan is intended to cut costs and make the company’s streaming service profitable.

Johnston faces some challenges in the near future: Disney’s embroiled in a dispute with Google-owned YouTube, and there’s a fraught selection process to replace longtime CEO Bob Iger on the horizon.

What’s a CFO make at the House of Mouse (we know you’re wondering)? Johnston’s salary is $2 million, and he has an annual target bonus of $4 million, according to the Hollywood Reporter. The extended contract didn’t change those terms, but it did raise Johnston’s long-term equity incentive to $16.5 million.

Whistle while you work, indeed.