PepsiCo names new CFO amid snack demand slump and plant closures
PepsiCo has announced Steve Schmitt as the new Chief Financial Officer, effective November 10, 2025. Meanwhile, the company faces challenges in North America, with declining snack demand and production site closures, including two Frito-Lay facilities in Orlando, Florida, affecting nearly 500 jobs.
PepsiCo is responding to these challenges by restructuring its product offerings. It's adjusting recipes with alternative oils, removing artificial additives, and introducing smaller, more affordable package sizes. The company has also closed production sites in New York and California due to waning demand.
Analysts await the fourth-quarter and full-year 2025 results, expected in February 2026, to assess the success of these restructuring efforts. Currently, PepsiCo's stock is rated as 'Hold' to 'Moderate Buy', reflecting market uncertainty. Despite these challenges, PepsiCo has unveiled a new brand identity, signaling a fresh start.
Steve Schmitt's appointment as CFO comes at a critical time for PepsiCo, as the company navigates declining demand and production cuts. The coming months will be crucial to see if PepsiCo's restructuring efforts bear fruit, as indicated by the upcoming financial results.
