The Walt Disney Company has extended its contract with its Chief Financial Officer, Hugh Johnston, to 2029. This comes as his previous contract was set to expire on January 31, 2026. Now, the expiration date is three years later.
A filing showed the extension of this contract. It also revealed that while Johnston’s base salary of $2 million remains the same, Disney raised his long-term equity award to $16.5 million from $14 million starting with fiscal year 2024. He also receives a target annual bonus opportunity that is 200% of his base salary.
Hugh Johnston came to The Walt Disney Company in late 2023 after Bob Iger returned for a second stint as the CEO of the company. He has been a key figure in Iger’s restructuring of Disney. As Disney prepares to hire a new CEO, extending his contract provides some level of stability during the transition and Iger’s retirement.
In the role of CFO, Johnston oversees Disney’s financial organization. This includes the realms of 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.
Before working for Disney, Johnston worked for decades at PepsiCo. He started there in 1987 and worked in multiple roles before becoming CFO in 2010.
What do you think of Johnston’s contract being extended? How do you think he is doing as CFO at Disney? Share your thoughts and opinions in the comments below!
