The Walt Disney Co. has been a scene of near-constant reorganization for the past few years. And more of that is likely to come as Disney, along with other entertainment companies, tries to get the right structure in place to cope with changes in the industry caused by the rise of streaming video.
The most recent shakeup came Monday, as Disney named PepsiCo vice chairman and chief financial officer Hugh Johnston to succeed longtime CFO Christine McCarthy, who left at the end of June. She had been replaced, on an interim basis by Kevin Lansberry, the CFO of the Disney Parks. The appointment will help Disney fight Nelson Peltz’s renewed activist campaign. The activist investor—who backed off a prior effort earlier this year after Disney announced cost-cutting moves—reportedly wants two board seats.