PepsiCo

CEO Ramon Laguarta has steered an effective mix of productivity, portfolio reshaping, and international execution. The CFO seat is transitioning from Jamie Caulfield to Steve Schmitt (joining from Walmart U.S.), a deep operator in large-scale retail.

The board and management acknowledge and engage with shareholder perspectives, including a 2025 statement responding to Elliott Investment Management’s views. We see leadership as capable stewards with a long-term focus.