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On 9 October 2025 PepsiCo named Steve Schmitt, CFO of Walmart U.S., as Executive Vice President and CFO effective 10 November 2025, succeeding Jamie Caulfield, who is retiring after more than 30 years.

On 8 December 2025 PepsiCo announced commercial and financial priorities, backed by activist investor Elliott Investment Management, including lower everyday prices, a cut of nearly 20 percent of its US product lineup and a 2026 organic revenue growth target of 2 to 4 percent.

At CES on 6 January 2026 PepsiCo announced a multi-year collaboration with Siemens and NVIDIA to simulate and redesign its plants and warehouses with physics-based digital twins and AI, with early pilots running in the US.

PepsiCo reported second-quarter 2026 net revenue up 6.4% to US$24.18 billion with organic growth of 2.4% and core EPS of US$2.20, affirmed its 2026 guidance, and saw its shares drop as North American foods stayed weak.

On 17 September 2026 PepsiCo announced that Johnson & Johnson Chairman and CEO Joaquin Duato, 64, was elected an independent director effective 1 December 2026 and will sit on the Audit Committee.