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flag PepsiCo names Walmart veteran Steve Schmitt CFO Nov. 10, 2025, to lead during financial challenges.

flag PepsiCo has named Steve Schmitt, former CFO of Walmart U.S., as its new chief financial officer, effective November 10, 2025, succeeding retiring CFO Jamie Caulfield. flag Schmitt, 52, brings experience in finance, supply chains, and digital transformation from roles at Walmart, Yum! flag Brands, and UPS. flag The appointment comes as PepsiCo faces declining North American sales, inflation, and pressure from activist investor Elliott Investment Management, which has pushed for portfolio streamlining and bottler refranchising. flag Despite a 2.7% revenue increase in the third quarter to $23.94 billion, profit dipped to $2.6 billion. flag The company reaffirmed its full-year outlook, emphasizing cost cuts and growth in international markets.

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