PepsiCo Inc.’s Hugh Johnston will find a familiar face when he joins Walt Disney Co. next month as chief financial officer — activist investor Nelson Peltz.
Johnston, who has been Pepsi’s CFO since 2010, was a key player in fending off Trian Fund Management 10 years ago when its founder Peltz began pushing the soft drink and snack giant to either merge with a rival or split into two businesses. Johnston argued against the proposal. Pepsi added a Peltz adviser to its board in 2015, and Trian sold its shares the following year.
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