Pepsi chief marketing officer Todd Kaplan is stepping down after 17 years with the business.
The marketer confirmed that he was leaving to “pursue an opportunity outside of the company” in a LinkedIn post.
“This was not an easy decision for me because PepsiCo has been like a family to me for almost two decades,” he wrote, saying that he was off to “learn a completely new business” and apply his talents in “entirely different ways.”
ADWEEK reached out to PepsiCo to confirm how it will fill the now vacant marketing position at its flagship brand, but the company had yet to reply at the time of writing.
The move comes amid a time of change for PepsiCo, which owns brands including Doritos, Walkers and Quaker. In May, vice president of sports, entertainment and gaming Kalen Thornton left to join Pizza Hut as global chief brand officer. Elsewhere, senior vp and CMO of energy drinks Fabiola Torres left to join Gap as global CMO.
The company also recently hired former Kraft Heinz Continental Europe CMO Paula Marconi as CMO in Europe to “strengthen” its presence across the region.
This week, Pepsi lost its crown as American’s second favorite soda (after Coca-Cola). As per data from Beverage Digest, Coke claimed 19% of the market in 2023 and Dr Pepper claimed 8.3%, narrowly edging Pepsi out of its long-held runner-up position. In the most recent financial quarter, sales volume in Pepsi’s beverage unit fell 5%.
Read more at: AdWeek
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