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Hugh Johnston

Hugh Johnston, the PepsiCo vice chairman and chief financial officer, has joined Microsoft’s board of directors and left the Twitter board after a year-and-a-half as a director at the social media company.

Microsoft announced the appointment of Johnston this afternoon and also said that Mason Morfit, the president of ValueAct Capital, will not seek re-election at the company’s upcoming shareholders meeting. Morfit joined the board in 2014 as the activist shareholder firm was amassing a large stake in the Redmond company.

“Hugh is an accomplished financial and business leader who brings a depth of experience from his successful career at PepsiCo where he has oversight of finance, IT, e-commerce and the company’s digital transformation,” said John W. Thompson, independent Microsoft board chairman, in a news release announcing the changes. “He is a great addition to Microsoft’s board of directors, and we look forward to working with him.”

Johnston is succeeded on the Twitter board by Patrick Pichette, the former Google chief financial officer.

Microsoft also announced a quarterly dividend of 42 cents per share and set a date of Nov. 29 for its annual shareholders meeting.

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