PepsiCo CFO leaves after 13 years, to become Disney’s CFO

Shares of PepsiCo Inc.
PEP,
-0.05%
fell 0.5% in premarket trading Monday, after the beverage and snack giant said Chief Financial Officer Hugh Johnston will leave at the end of the month after about 13 years in the role and 34 years with the company, to become Walt Disney Co.’s
DIS,
-1.23%
CFO. Disney’s stock gained 0.2% ahead of the open. He’s set to join Disney, to replace Kevin Lansberry, who has been interim CFO since July 1 after CFO Christine McCarthy took a family medical leave of absence. PepsiCo Johnston will be succeeded as CFO by Jamie Caulfield, who is currently CFO of PepsiCo Foods North America. PepsiCo’s stock has lost 9.7% over the past three months through Friday, while Disney shares have slipped 1.4% and the S&P 500
SPX,
+0.18%
has lost 2.7%.