PepsiCo Makes Progress on DE&I Goals
PURCHASE, N.Y. — PepsiCo Inc. has continued to make progress on gender parity in management globally, maintained pay equity and supported historically marginalized communities around the world, according to its most recent Global Diversity, Equity and Inclusion (DE&I) Report.
[Read more: A DEI Fact Check]
"At PepsiCo, diversity, equity, and inclusion are more than just words — they are the backbone of who we are and a key pillar of our pep+ journey," said Ramon Laguarta, PepsiCo chairman and CEO. "We are committed to driving the principles deep into all aspects of our business and giving everyone the tools, training and resources to ensure we are all doing our part."
The latest report shared progress across the company's three strategic pillars, which include spaces for people to be themselves, spaces for business partners to grow and spaces for communities to thrive.
Specific advancements show current gender parity in managerial roles globally sitting at 44 percent, with progress trending toward the company's goal of 50 percent by 2025. Black and Hispanic representation in the U.S. has also increased at the managerial level to 9 percent and 10.1 percent, respectively, with the company's Racial Equity Journey program helping PepsiCo reach its goal for Hispanic representation at the manager level three years ahead of schedule.
Pepsi spends more than $1 billion annually with diverse suppliers, with the company supporting nearly 1,000 Black-owned and Hispanic-owned businesses in 2022 through platforms such as the Black Restaurant Accelerator program and PepsiCo Juntos Crecemos. This comes on top of individual brands initiating purpose-driven campaigns focused on a wide range of issues, such as barriers to sports, inclusive advertising and support for malnourished or food insecure children, according to the report.
The company is also continuing to support the wider global communities it serves, according to the report. Programs such as the Rania Rizk Young Arab Women Leaders Scholarship and partnerships with the University of Paris II Leadership Council have provided further support for young Arab women, while employee skills and expertise have been leveraged to support more than 70 indigenous organizations in 11 regions across Australia and New Zealand.
The company's DEI progress has led to numerous accolades, including list rankings on Fortune's World's Most Admired Companies and Diversity Inc's Top Companies for Diversity.
"Our rich legacy of DE&I serves as a compass that guides our actions, and this year's report is a testament to our continued evolution," said Tina Bigalke, PepsiCo's global chief diversity, equity, and inclusion officer. "While there's more work to be done, we remain committed to our journey and to harnessing the power and passion of the changemakers in this report — all of whom are united in their efforts to build a more equitable workplace and society."
The full report with more in-depth details on PepsiCo's DE&I work may be found here.
Headquartered in Purchase, PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream.
In 2022, the company launched PepsiCo Positive, or pep+, a strategic end-to-end transformation that puts sustainability and human capital at the center of how PepsiCo will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people.