Beverage Industry

PepsiCo promotes Hugh Johnston as new CFO

March 16, 2010

PepsiCo, Purchase, N.Y., promoted Hugh Johnston to succeed Richard Goodman as the company’s chief financial officer.

Johnston has worked for PepsiCo for 23 years, including his most recent stint as the company’s executive vice president of global operations, the company said.

Goodman is stepping down to a reduced role as executive vice president for business information systems, global procurement, global operations and post-merger integration, said Indra Nooyi, chief executive officer, in a statement.

“It is with very mixed emotions that I am making this announcement because Richard not only has done an excellent job as CFO, but has been a trusted advisor to me and the entire senior management team,” she said, in a statement. “At the same time, I am delighted to have as CFO Hugh Johnston, an extremely talented executive with deep finance and general management experience.”

Goodman hands off the CFO role to Johnston after holding the position for four years, during which he oversaw the company’s finances through a recession and helped complete the acquisition of Pepsi’s two largest bottlers. Johnston has worked at PepsiCo since 1987 in a variety of management roles.