PepsiCo (NASDAQ:PEP) has appointed Steve Schmitt as executive vice president and chief financial officer, effective November 10, 2025.
He will succeed Jamie Caulfield, who plans to retire in 2026 after more than three decades with the company. Caulfield will continue as CFO until November 10 before transitioning to an advisory role to support the handover through May 15, 2026.
Schmitt joins PepsiCo from Walmart (WMT), where he currently serves as executive vice president and chief financial officer for Walmart U.S., overseeing the finance function for Walmart’s multi-billion-dollar omni-channel U.S. organization and leading the core financial activities of Walmart’s largest business unit.
