CFOs On the Move: Week ending Oct. 10

Executive Changes - Steve Schmitt will become the finance chief of PepsiCo on November 10, transitioning from Walmart where he served as CFO for Walmart U.S. [2] - Anthony Armstrong has been appointed CFO of xAI, Elon Musk's AI company, and will also oversee finance operations for the social media platform X [3] - Marshall Witt has been named CFO of FedEx Freight, effective October 15, previously serving as CFO at TD Synnex [4] - Anthony Coletta has been hired as the new finance chief at Sprinklr, coming from SAP where he held various CFO roles [5] Background and Experience - Schmitt has over 10 years of experience at Yum Brands and started his career at UPS [2] - Armstrong is a former Morgan Stanley banker and has experience advising on Musk's Twitter takeover [3] - Witt has a long history with FedEx, having spent 15 years in its finance organization before his role at TD Synnex [4] - Coletta spent 18 years at SAP, including as chief investor relations officer and divisional CFO [5] Succession and Transition - Schmitt succeeds Jamie Caulfield, who is retiring after over 30 years at PepsiCo [2] - Armstrong replaces Mike Liberatore, who left xAI for OpenAI [3] - Witt takes over as CFO of FedEx Freight as part of its planned spinoff from FedEx [4] - Coletta replaces Manish Sarin, who stepped down on September 19, with CEO Rory Read serving as interim CFO during the transition [5]