Pepsi Co. announced Thursday that Steve Schmitt will become executive vice president and chief financial officer, effective Nov. 10, 2025.
He succeeds Jamie Caulfield, who is retiring after more than 30 years with the company.
Schmitt currently serves as Executive Vice President and Chief Financial Officer for $WMT (+0,39%) U.S., where he is responsible for the financial operations of Walmart's U.S. segment.
During his time at Walmart, Schmitt helped transform the company into an omnichannel retailer and led cost discipline initiatives.
Prior to Walmart, he worked in various roles for Yum! Brands and began his career at UPS, where he worked for more than a decade.
"Steve has an impressive track record of success and brings critical expertise that aligns with PepsiCo's growth strategy," said Ramon Laguarta, Chairman and CEO of PepsiCo, in a press release.
