UNITED STATES – PepsiCo. Inc., an American multinational food, snack, and beverage corporation, has announced the promotion of James Caulfield as the new CFO following the departure of Hugh Johnstone.
James Caulfield, who has been with PepsiCo for over a decade, steps into this new role with a wealth of experience in finance and a proven track record of driving financial growth within the organization.
The company’s board of directors expressed their confidence in Caulfield’s ability to lead the finance department to new heights.
PepsiCo’s Chairman and CEO, Ramon Laguarta, commented on the appointment, saying, “We are pleased to have James Caulfield take on the role of CFO. His deep financial expertise, strategic mindset, and strong leadership skills make him the ideal choice to lead our financial organization.
We have every confidence in James’s ability to help drive our business forward, building on the strong foundation established under Hugh Johnstone’s leadership.”
Caulfield, who has worked at PepsiCo for more than 30 years, is currently Senior Vice President, and Chief Financial Officer, at PepsiCo Foods North America.
“We are fortunate to have someone of Jamie’s Caliber and experience already within PepsiCo today and ready to take on the role. The continuity which Jamie will bring, coupled with his relentless attention to detail and commitment to PepsiCo, is evidence that we have the right person for the job,” said Ramon.
Hugh Johnstone is set to leave the company at the end of the month after working at the snacking and beverage giant for 34 years. He is set to become the new CFO at the Walt Disney Company.
“Hugh’s legacy will be with us for decades to come. He has exemplified and epitomized the leadership qualities that PepsiCo has nurtured for generations. Under his financial leadership, the company has transformed significantly, and he has been a strong partner to me for many years,” said Ramon.
Despite the new appointment, PepsiCo expects the firm’s strategic directions and capital allocation priorities to remain in place.
Additionally, the Cheetos producer will continue investing heavily in innovation and marketing in snacks and beverages to deepen consumer connections.
Caulfield’s appointment as CFO at PepsiCo underscores the company’s commitment to promoting from within its ranks and leveraging the talents of its talented workforce.
Earlier this year, the Dorito’s producer appointed Dannii Portsmouth as the new chief HR officer for the Europe division.
Dannii previously served as vice president of HR for beverages the west division of the U.S. In her current role, she oversees the company’s people and talent strategy for 40,000 employees across 55 countries.
