Disney’s stock price has recently tumbled, under pressure from cord-cutting and the high cost of streaming.
Photo: fred prouser/ReutersWalt Disney ’s new finance chief steps into the role with a noteworthy victory: His former company fended off an attack from activist investor Nelson Peltz .
Disney on Monday named Hugh Johnston , the longtime finance chief of PepsiCo , as its next chief financial officer.
Johnston joins Disney as the company faces activist pressure from Peltz, whose firm, Trian Fund Management, has built a sizable stake in the company and is threatening a proxy battle.
Disney’s stock price has recently tumbled, under pressure from ongoing cord-cutting and the high cost of streaming.
Persons:
fred prouser, Reuters Walt, Nelson Peltz, Hugh Johnston, Johnston
Organizations:
Reuters, Reuters Walt Disney ’, Disney, PepsiCo, Trian Fund Management