PepsiCo Announces New Chief Financial Officer

Core Insights - PepsiCo has appointed Steve Schmitt as Executive Vice President and Chief Financial Officer, effective November 10, 2025, succeeding Jamie Caulfield, who will retire after over 30 years with the company [1][4]. Group 1: Leadership Transition - Jamie Caulfield will remain in his role as CFO until November 10, 2025, after which he will take on an advisory role until May 15, 2026, to assist with the transition [1]. - Steve Schmitt joins PepsiCo from Walmart, where he served as Executive Vice President and CFO for Walmart U.S., overseeing a multi-billion-dollar omni-channel organization [2][3]. Group 2: Steve Schmitt's Background - Schmitt has been with Walmart since 2016, holding various leadership positions and playing a key role in Walmart's transformation into an omnichannel retailer [3]. - His previous experience includes roles at Yum! Brands, where he developed expertise in quick-service restaurants and evaluated long-term growth strategies [3]. Group 3: Strategic Vision - Ramon Laguarta, Chairman and CEO of PepsiCo, emphasized Schmitt's strong track record and critical expertise that align with PepsiCo's growth strategy, particularly in adapting to the dynamic retail landscape and optimizing cost structures [4]. - PepsiCo aims to be the global leader in beverages and convenient foods, guided by its pep+ strategy, which focuses on sustainability and human capital [6].