Pepsi CMO Todd Kaplan is leaving parent company PepsiCo to pursue external opportunities after nearly 20 years, the executive said on LinkedIn. Ad Age first reported the news.
Kaplan was named chief marketing officer in 2022 after serving as Pepsi's vice president of marketing for more than three years. During his tenure at the cola brand, he helped lead the business transformation, accelerated the growth of Pepsi Zero Sugar, expanded the marketer's water portfolio, and created new content and direct-to-consumer channels moving forward from the Super Bowl Halftime Show.
“I get to work with amazing teams, create and launch new brands, reimagine Building on the legacy of our most iconic brands to create the biggest cultural moments, pushing the boundaries of creativity and industry, and learning and laughing along the way,” Kaplan said in the post. .
Perhaps most notably, in 2023 executives will oversee Pepsi's first visual overhaul in 14 years. maximalist rebrand This marked the brand's 125th anniversary and was accompanied by a major marketing push.
“Todd is an incredibly creative and innovative marketer, and his impact on our brand and business has been continuously felt throughout his tenure. We look forward to the impact he will continue to make in this next chapter,” a PepsiCo spokesperson said in a statement shared with Marketing Dive.
Kaplan's time at Pepsi coincided with increasing fragmentation in the marketing and media space, and Pepsi often struggled to connect with consumers around the culture of emerging channels. Most recently, he helped launch the flavor brand expansion. Champagne Bring on Bobby Flay to headline Pepsi's latest food-focused effort.
“It’s a great time for marketers, with so many new and exciting platforms and ways to reach and engage with consumers,” Kaplan told Marketing Dive 2022. But each platform has different formats, different requirements, and different content rules.”
Kaplan didn't share any details about his plans, but did include a rocket ship emoji in his post.
The executives' departures come as competition in the beverage market intensifies as Pepsi and key rival Coca-Cola market new product launches, including sugar-free and better-for-you options. Amid the resurgence of the so-called “cola wars,” Pepsi is the second most popular carbonated soft drink, with its non-Cola competitor Dr Pepper leading the way, according to sales data from Beverage Digest cited by the Wall Street Journal. It was selected as a brand.
