Vending

PepsiCo names Steve Schmitt as chief financial officer

Photo: PepsiCo

October 10, 2025

PepsiCo has appointed Steve Schmitt as executive vice president and chief financial officer effective Nov. 10, succeeding Jamie Caulfield, who will retire next year after more than 30 years with the company, according to a press release.

Schmitt joins PepsiCo from Walmart, where he served as CFO for Walmart U.S., overseeing the finance function of its multibillion-dollar omnichannel operation. He previously held leadership roles at Yum! Brands and began his career with UPS.

"Steve has a strong track record of proven results and brings critical expertise that aligns with PepsiCo's growth strategy," Ramon Laguarta, PepsiCo chairman and CEO, said in the release. "He will play a crucial role as we accelerate growth, optimize our cost structure and create greater value for our shareholders."

Caulfield will remain in an advisory role through May 2026 to assist with the transition.