PepsiCo Inc. has named Steve Schmitt its executive vice president and chief financial officer, effective Nov. 10, 2025.
Schmitt is departing Walmart for the new position — he is currently executive vice president and chief financial officer for Walmart U.S. He started with Walmart in 2016 and has been a leader in the e-commerce, club, and mass businesses. According to PepsiCo’s announcement, he played an important role in Walmart’s transformation into an omnichannel retailer and also led cost-discipline initiatives.
Prior to his time with Walmart, Schmitt worked for Yum! Brands and UPS (where he spent more than a decade).
Schmitt is taking the reins from Jamie Caulfield, who will retire next year after more than 30 years with the company. Caulfield will stay on after Nov. 10 in an advisory role through May 15, 2026, the company noted.
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.
