PepsiCo Elects Joaquin Duato to Board of Directors

PURCHASE, N.Y., Sept. 17, 2026 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced its Board of Directors has elected Joaquin Duato as an independent member of the Board. Mr. Duato, 64, will join the Board effective December 1, 2026, and will be a member of the Audit Committee. Mr. Duato currently serves as Chairman and Chief Executive Officer of Johnson & Johnson, a global healthcare company.

"We look forward to working with Joaquin on the PepsiCo Board," said PepsiCo Chairman and CEO Ramon Laguarta. "During his more than three decades at Johnson & Johnson, he has played a key role in driving strategic transformation, portfolio optimization and innovation at the company, leading complex global businesses spanning pharmaceuticals, consumer health and technology. His broad leadership experience and perspective will be an important asset to the Board as PepsiCo continues to evolve its portfolio, invest in growth opportunities and strengthen its position as a global convenient food and beverage leader."

Mr. Duato has served as Chairman of the Board and Chief Executive Officer of Johnson & Johnson since 2023 and 2022, respectively, and as a director since 2022. Prior to that, he served as Vice Chairman of the Executive Committee from 2018 to 2021 and Worldwide Chairman, Pharmaceuticals from 2011 to 2018. Before these positions, he held executive positions of increasing responsibility across business sectors and multiple geographies and functions following his joining Johnson & Johnson in 1989.

"We are delighted to welcome Joaquin to the PepsiCo Board of Directors," said Robert C. Pohlad, Chair of the Board's Nominating and Corporate Governance Committee. "Joaquin brings extensive expertise in overseeing a large global organization operating in highly regulated and rapidly evolving markets. His experience driving research-based innovation and portfolio management, together with his deep understanding of risk oversight and operational resilience, will further strengthen the Board's ability to oversee PepsiCo's evolving portfolio, support strategic prioritization of growth opportunities and create sustainable long-term shareholder value."

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $94 billion in net revenue in 2025, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and drinks, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that places sustainability at the center of our business strategy, seeking to drive growth and build a stronger, more resilient future for PepsiCo and the communities where we operate. For more information, visit www.pepsico.com.

Cautionary Statement

Statements in this release that are "forward-looking statements" are based on currently available information, operating plans and projections about future events and trends. Forward-looking statements inherently involve risks and uncertainties. For information on certain factors that could cause actual events or results to differ materially from our expectations, please see PepsiCo's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE PepsiCo, Inc.