8-KLeadership Changes

PEPSICO INC 8-K Report, Executive Changes (Sep 17, 2026)

Filed September 17, 2026For Securities:PEP

Summary

PepsiCo, Inc. has announced a significant addition to its Board of Directors, with the election of Joaquin Duato, effective December 1, 2026. Mr. Duato brings extensive leadership experience, currently serving as Chairman and CEO of Johnson & Johnson, and previously holding senior executive roles within that organization for over three decades. This appointment is strategically important as Mr. Duato will also join PepsiCo's Audit Committee, bringing his considerable financial and governance expertise to a critical oversight function. Investors should note that Mr. Duato's compensation structure reflects standard practices for new non-employee directors, involving an initial stock award and prorated equity awards, along with an annual cash retainer. The effective date of December 1, 2026, indicates a future integration into the Board's activities.

Key Highlights

  • 1Joaquin Duato elected as an independent member of the Board of Directors, effective December 1, 2026.
  • 2Mr. Duato will serve on the Audit Committee of the Board, effective December 1, 2026.
  • 3Mr. Duato brings substantial executive experience, currently serving as Chairman and CEO of Johnson & Johnson.
  • 4Compensation for Mr. Duato includes an initial stock award of 1,000 shares and a prorated annual equity award upon joining the Board.
  • 5Annual cash retainer of $60,000 semi-annually will be provided, with the first payment in June 2027.
  • 6The appointment enhances the Board's financial oversight capabilities with a seasoned executive.

Frequently Asked Questions

Joaquin Duato is a seasoned executive with extensive experience. He currently serves as Chairman of the Board and Chief Executive Officer of Johnson & Johnson, roles he assumed in 2023 and 2022, respectively. Prior to these positions, he held various senior leadership roles at Johnson & Johnson since joining in 1989.

Mr. Duato's appointment to the Board of Directors and the Audit Committee is effective December 1, 2026.

Upon joining the Board, Mr. Duato will receive an initial stock award of 1,000 shares of PepsiCo Common Stock. He will also receive a prorated annual equity award based on a value of $166,667 divided by the stock price on December 1, 2026. Additionally, he is entitled to an annual cash retainer, with the first semi-annual payment of $60,000 expected in June 2027.

Mr. Duato's appointment to the Audit Committee is significant because it brings his extensive financial and leadership experience, particularly from his tenure at a large, complex organization like Johnson & Johnson, to a critical oversight role. This can enhance the Board's ability to monitor financial reporting, internal controls, and risk management.