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PepsiCo Taps Walmart Executive as New CFO

PepsiCo is shaking up its finance chief ranks as the company looks to turn around slowing snack and soda sales and contends with an activist investor pushing for changes.

Steve Schmitt, a Walmart executive, will step in as chief financial officer on Nov. 10, succeeding PepsiCo insider Jamie Caulfield, who plans to retire after more than three decades at the company. Schmitt has served as finance chief of Walmart's U.S. arm since 2021. Prior to joining the retail giant in 2016, he held several roles of increasing leadership during...

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