PepsiCo Appoints New CFO, Elects Directors
Ticker: PEP · Form: 8-K · Filed: Dec 11, 2024 · CIK: 77476
| Field | Detail |
|---|---|
| Company | Pepsico Inc (PEP) |
| Form Type | 8-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-composition, cfo-appointment
Related Tickers: PEP
TL;DR
PepsiCo's got a new CFO, Steven Williams, and two new board members. Johnston moves to advisory.
AI Summary
PepsiCo Inc. announced on December 11, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David L. Albright and Maria S. Rodriguez, to its Board, effective immediately. Additionally, the company announced the appointment of Steven M. Williams as the new Chief Financial Officer, succeeding Hugh F. Johnston, who will transition to a senior advisory role. Williams' compensation package includes a base salary of $900,000 and a target annual bonus of 150% of his base salary.
Why It Matters
This filing indicates significant leadership changes at PepsiCo, including a new CFO, which could signal shifts in financial strategy or operational focus.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future company strategy and performance.
Key Numbers
- 2 — New Directors Elected (Strengthening the board with new perspectives.)
- $900,000 — New CFO Base Salary (Compensation for Steven Williams.)
- 150% — New CFO Target Bonus (Incentive compensation for Steven Williams.)
Key Players & Entities
- PepsiCo Inc. (company) — Filer
- David L. Albright (person) — Newly Elected Director
- Maria S. Rodriguez (person) — Newly Elected Director
- Steven M. Williams (person) — Newly Appointed Chief Financial Officer
- Hugh F. Johnston (person) — Outgoing Chief Financial Officer, transitioning to Senior Advisor
- $900,000 (dollar_amount) — Steven Williams' base salary
- 150% (dollar_amount) — Steven Williams' target annual bonus percentage
FAQ
Who are the newly elected directors to PepsiCo's board?
David L. Albright and Maria S. Rodriguez were elected as new directors on December 11, 2024.
Who has been appointed as the new Chief Financial Officer of PepsiCo?
Steven M. Williams has been appointed as the new Chief Financial Officer, effective December 11, 2024.
What is Steven M. Williams' base salary as the new CFO?
Steven M. Williams' base salary is $900,000.
What will Hugh F. Johnston's new role be?
Hugh F. Johnston will transition to a senior advisory role.
What is the target annual bonus percentage for the new CFO?
The target annual bonus for Steven M. Williams is 150% of his base salary.
Filing Stats: 672 words · 3 min read · ~2 pages · Grade level 10.7 · Accepted 2024-12-11 16:34:10
Filing Documents
- pep-20241211.htm (8-K) — 44KB
- 0000077476-24-000058.txt ( ) — 286KB
- pep-20241211.xsd (EX-101.SCH) — 5KB
- pep-20241211_def.xml (EX-101.DEF) — 23KB
- pep-20241211_lab.xml (EX-101.LAB) — 44KB
- pep-20241211_pre.xml (EX-101.PRE) — 24KB
- pep-20241211_htm.xml (XML) — 11KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEPSICO, INC. Date: December 11, 2024 By: /s/ Cynthia A. Nastanski Name: Cynthia A. Nastanski Title: Senior Vice President, Corporate Law and Deputy Corporate Secretary