Walmart exec to replace retiring PepsiCo CFO

Group 1 - The company, known for its popular soft drinks and snacks, announced a change in finance leadership alongside a better-than-expected quarterly earnings report, generating $23.94 billion in Q3, a 2.6% increase year-over-year [3][4] - Organic revenue, excluding acquisitions and foreign exchange, rose by 1.3% in the quarter, with a 4% price increase offsetting a 3% volume drop, primarily in North America [4] - Management plans to increase investments in innovation and away-from-home channels to engage consumers better, which may help North America volumes rebound and drive organic sales growth back to the long-term range of 4%-6% [5] Group 2 - Steve Schmitt has been appointed as the new CFO, effective November 10, with an annual base salary of $900,000 and a sign-on bonus of $2 million [6][7] - Schmitt previously served as CFO for Walmart U.S. and played a significant role in Walmart's transformation into an omnichannel retailer, focusing on cost discipline [7] - The company's chairman and CEO emphasized Schmitt's experience with complex supply chains and operational excellence, which will be crucial for accelerating growth and optimizing the cost structure [7]