PepsiCo has appointed Jamie Caulfield as its new chief financial officer, following the decision of Hugh Johnston to join The Walt Disney Company.

Caulfield, presently CFO of PepsiCo Foods North America, will step into Johnson’s shoes at the end of November.

In a 30-year career at the soft drinks and snacks maker, Caulfield has held roles including senior vice president of investor relations, M&A, corporate strategy and development and CFO for Canada at PepsiCo Beverages North America.

“We are fortunate to have someone of Jamie’s calibre and experience already within PepsiCo today and ready to take on the role [of CFO],” said PepsiCo CEO Ramon Laguarta. “His experience within the company is as deep as it is broad and he has touched all aspects of our business in the last 30 years.”

Johnston leaves PepsiCo after 34 years, having joined the company in 1987. He was appointed PepsiCo’s CFO in 2010.

He will join Disney Company as its new CFO on 30 November.

“Hugh’s legacy will be with us for decades to come,” Laguarta said. “He has exemplified and epitomised the leadership qualities which PepsiCo has nurtured for generations.

“Under his financial leadership the company has transformed significantly, and he has been a strong partner to me for many years. I will miss his calm guidance as well as his people-first and empathetic leadership qualities.”

Johnston added: PepsiCo has been my home for 34 years. The partnerships and friendships I have created over the years will be lifelong and it has been an extraordinary honour to serve this company, and to work alongside some outstanding leaders, including Ramon.

“I am grateful to everyone who I have worked with and for the trust which has been placed in me.”