PepsiCo Announces New Chief Financial Officer; Long-Standing CFO to Leave For Role at Disney

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PepsiCo's Vice Chairman and CFO, Hugh Johnston, will be leaving the company on November 30 after 34 years of service. James Caulfield is appointed as the new CFO. Johnston will join The Walt Disney Company as CFO. Caulfield has an exemplary track record within PepsiCo and will bring continuity to the Finance function.

PURCHASE, N.Y., Nov. 6, 2023 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced that Vice Chairman and Chief Financial Officer, Hugh Johnston, will be leaving the company on November 30.  James (Jamie) Caulfield is appointed Executive Vice President, Chief Financial Officer PepsiCo.

Johnston retires from PepsiCo after 34 years of incredible and stellar service to the company.  He joined the company in 1987 and assumed the role of Chief Financial Officer in 2010.  Over the years, Johnston's portfolio has included a variety of responsibilities, including President, Pepsi Cola North America, leadership of PepsiCo's information technology function since 2015, the company's global e-commerce business from 2015 to 2019 and the Quaker Foods North America division from 2014 to 2016. 

Johnston will join The Walt Disney Company as Chief Financial Officer following his departure from PepsiCo on November 30. 

As a result of this transition, Jamie Caulfield will succeed Johnston as Executive Vice President, Chief Financial Officer for PepsiCo.  Caulfield is currently Senior Vice President, Chief Financial Officer, PepsiCo Foods North America.  He has an exemplary track record within PepsiCo, also spanning more than 30 years.  During his PepsiCo career, Caulfield held the key position of Senior Vice President, Investor Relations from 2011 to 2019 and has held a succession of roles in Finance across Frito-Lay, FP&A, Investor Relations, Mergers & Acquisitions, Corporate Strategy and Development, and North America Beverages, where he was CFO for Canada.  In 2019, Caulfield took on his current role as Senior Vice President, Chief Financial Officer, PepsiCo Foods North America and has been instrumental in the stewardship of the growth and transformation of the business. 

Commenting on Jamie Caulfield's appointment, Ramon Laguarta, Chairman and Chief Executive Officer, said: "We are fortunate to have someone of Jamie's caliber and experience already within PepsiCo today and ready to take on the role.  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.  The continuity which Jamie will bring to the high-performing Finance function, coupled with his relentless attention to detail and commitment to PepsiCo, is evidence that we have the right person for the job.  I could not be more pleased to be announcing Jamie's appointment today."

Speaking in relation to Hugh Johnston, Laguarta continued: "Hugh's legacy will be with us for decades to come.  He has exemplified and epitomized 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.  Hugh goes on to the next stage of his career with all our best wishes."

Hugh Johnston said: "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 honor 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.  PepsiCo will always be a very special place."

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.

For further information:
Chris Kuechenmeister
PepsiCo Communications
chris.kuechenmeister@pepsico.com

 

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SOURCE PepsiCo, Inc.

FAQ

Who is leaving PepsiCo?

Hugh Johnston, Vice Chairman and CFO, is leaving PepsiCo.

Who is the new CFO of PepsiCo?

James Caulfield is appointed as the new CFO of PepsiCo.

Where is Hugh Johnston going after leaving PepsiCo?

Hugh Johnston will join The Walt Disney Company as CFO.

What is James Caulfield's background in PepsiCo?

James Caulfield has been with PepsiCo for over 30 years and has held various finance roles, including Senior Vice President of Investor Relations and CFO for Canada.

What is the CEO's comment on James Caulfield's appointment?

Ramon Laguarta, Chairman and CEO of PepsiCo, expressed his confidence in Jamie Caulfield's capabilities and highlighted his deep experience within the company.

What did Ramon Laguarta say about Hugh Johnston?

Ramon Laguarta praised Hugh Johnston's leadership qualities and the significant transformation that occurred under his financial leadership.