
Steve Schmitt To Succeed Jamie Caulfield As PepsiCo CFO
PepsiCo, Inc. has appointed Steve Schmitt as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective November 10, 2025. He will succeed Jamie Caulfield, who will retire next year after more than 30 years with the company.
Caulfield will continue as CFO until November 10, 2025, and will serve as an advisor through May 15, 2026, to support the transition.
Schmitt joins PepsiCo from Walmart, where he was Executive Vice President and CFO for Walmart U.S., overseeing the finance function of its omni-channel operations. Since joining Walmart in 2016, he has held leadership roles across e-commerce, club, and mass businesses, contributing to the company’s digital transformation and cost discipline. Before Walmart, he worked with Yum! Brands, gaining extensive experience in the quick-service restaurant and away-from-home sectors. Schmitt began his career at UPS, where he spent over a decade in various roles across operations and strategy.