Diving overview:
- Vice Chairman and Chief Financial Officer of PepsiCo Hugh Johnston leaves the company He is scheduled to become CFO of the Walt Disney Company at the end of this month. Johnston retired after 34 years with snack and beverage giant PepsiCo.
- Company veteran James (Jamie) Caulfield will assume the top finance post at the New York-based consumer goods giant.
- Mr. Johnson is a well-known and well-respected figure at PepsiCo, frequently giving interviews to the media and speaking on trends within the company and the food and beverage industry as a whole.
Dive Insight:
Like Mr. Johnson, who rose through the ranks at PepsiCo, the company is looking to replace Mr. Johnson with an insider who knows the inner workings of the company better than anyone else. Mr. Caulfield currently serves as Senior Vice President and Chief Financial Officer of PepsiCo Foods North America, Inc., and has held several finance positions within the company during his 30 years with the company. In his current role, PepsiCo said he “has been instrumental in managing the growth and transformation of the business.”
It remains to be seen whether PepsiCo will use Mr. Caulfield as the face of the company beyond his role as CFO, but his knowledge of the company and its strategy spans at least 30 years, with experience at the maker of Doritos and Aquafina. It has given it a rich reputation. It can depend. PepsiCo, a $230 billion company and a prominent player in the food and beverage industry, needs someone who can step into the role quickly, and Caulfield could do just that.
“We are fortunate to have someone of Jamie’s caliber and experience already within PepsiCo ready to take on the role,” Ramon said. laguartaPepsiCo CEO said in a statement. “His experience within the company is both broad and deep, having been involved in all aspects of our business over the past 30 years. This, combined with our unwavering care and dedication to PepsiCo, proves that we are the right person for this job.”
