Key Highlights
- Johnson & Johnson’s Chairman and CEO Joaquin Duato has been named to PepsiCo’s Board of Directors as an independent member, beginning December 1, 2026.
- The 64-year-old executive brings more than three decades of J&J experience, including his current roles as CEO since 2022 and Chairman since 2023.
- Duato’s board responsibilities will include serving on PepsiCo’s Audit Committee immediately upon appointment.
- His compensation package includes an initial 1,000-share stock grant and a prorated equity award in phantom stock units.
- Cash compensation starts with a semi-annual $60,000 payment in June 2027.
In a September 17, 2026 announcement, PepsiCo revealed the selection of Joaquin Duato, who leads Johnson & Johnson as both Chairman and CEO, to serve as an independent director on its board.
The new board member will officially assume his duties on December 1, 2026. At the time of this corporate announcement, PEP stock experienced a 2.77% decline.
With 64 years to his name, Duato’s association with Johnson & Johnson dates back to 1989, spanning an impressive career of over 30 years with progressively senior positions. His elevation to CEO came in 2022, followed by the Chairman designation in 2023.
Among his notable earlier positions at J&J were serving as Worldwide Chairman of the Pharmaceuticals division between 2011 and 2018, and as Vice Chairman of the Executive Committee from 2018 through 2021.
Ramon Laguarta, who serves as PepsiCo’s Chairman and CEO, highlighted Duato’s extensive achievements at J&J as the primary factor behind his selection. “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,” Laguarta said.
According to Robert C. Pohlad, who chairs PepsiCo’s Nominating and Corporate Governance Committee, Duato’s expertise in managing a multinational corporation operating within regulated and dynamic market environments will prove invaluable.
Director Compensation Package
As a new board member, Duato’s compensation will align with PepsiCo’s established framework for non-employee directors.
The package encompasses an initial allocation of 1,000 shares of common stock plus a prorated phantom stock unit award, both valued at the December 1, 2026 share price.
Additionally, he’ll receive annual cash compensation, beginning with a $60,000 semi-annual installment in June 2027.
From the outset, Duato will participate in PepsiCo’s Audit Committee activities.
PepsiCo Financial Overview
The beverage and snack food giant posted net revenue approaching $94 billion during 2025. Its extensive brand lineup features household names such as Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream.
The corporation currently maintains a market capitalization of $184.9 billion.
Wall Street analysts have issued a Hold recommendation for PEP, establishing a $152.00 price objective.
Daily share volume for PepsiCo typically averages approximately 8.26 million.
The equity currently trades beneath its significant long-term moving average benchmarks, while offering shareholders a dividend yield near 4% and maintaining a price-to-earnings multiple around 22x.
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