Iconic CMO Seeks New Opportunities Beyond Beverage Giant
In a surprising turn of events, Todd Kaplan, the dynamic Chief Marketing Officer of Pepsi, has announced his departure from the beverage titan after a remarkable 18-year tenure. Kaplan, who has been with PepsiCo since 2006, revealed his decision to step down via a LinkedIn post, citing a desire to pursue external opportunities. His departure marks the end of an era for PepsiCo, which now faces the challenge of filling the significant void left by his exit.
A Storied Career at PepsiCo
Kaplan’s journey with PepsiCo began humbly as an MBA intern. Over the years, he climbed the corporate ladder, demonstrating an uncanny knack for innovation and brand management. Starting as an assistant marketing manager, Kaplan quickly advanced through various roles, including marketing director for Mountain Dew and senior director for global innovation, insights, and incubation brands. In these positions, Kaplan’s team was instrumental in generating incremental value across five global business sectors.
In 2016, Kaplan was appointed vice-president of marketing for Pepsi’s water portfolio. During this period, he launched the sparkling water brand Bubly and the premium water brand Lifewtr, while also growing the established Aquafina brand. His efforts significantly boosted PepsiCo’s presence in the competitive bottled water market.
Transformational Leadership as CMO
Kaplan’s most notable achievements came during his tenure as Pepsi’s CMO, a position he assumed in 2022. Under his leadership, Pepsi underwent its first major rebrand in 14 years, unveiling a new logo and visual identity designed to marry the brand’s rich heritage with a forward-looking digital presence. This bold move was intended to set Pepsi up for success in an increasingly digital world.
Speaking to Marketing Week at the time, Kaplan expressed pride in the rebranding effort, stating, “The new visual system was designed to bring out the best of the Pepsi brand’s rich heritage, while taking a giant step forward to set it up for success in an increasingly digital world.”
Beyond rebranding, Kaplan played a pivotal role in reversing a decade-long decline in Pepsi sales. His strategic initiatives, including the acceleration of Pepsi Zero Sugar and the expansion of the Bubly Sparkling Water portfolio, were key drivers of this turnaround. Additionally, his emphasis on improving Pepsi’s relationships with its agencies, through a strategy he termed “collaborativity” (a blend of collaboration and creativity), resulted in highly successful campaigns such as ‘Hidden Logos’, which led to a 29% increase in brand consideration.
A Legacy of Innovation and Creativity
Throughout his career, Kaplan has been a beacon of creativity and innovation within PepsiCo. His ability to launch new brands, reimagine iconic ones, and create culturally resonant marketing moments has been widely acknowledged. A PepsiCo spokesperson, speaking to Marketing Dive, praised Kaplan’s impact: “Todd is an incredibly creative and innovative marketer and his impact on our brands and our business has been consistently felt throughout his tenure. We’re looking forward to seeing the impact he will continue to make in his next chapter.”
The Road Ahead
While Kaplan has not disclosed specifics about his next venture, he hinted at an eagerness to embrace new challenges and opportunities. “I’m excited to tackle new challenges, explore new possibilities, learn a completely new business and apply my talents in entirely different ways,” he wrote in his LinkedIn post.
As PepsiCo embarks on the search for Kaplan’s successor, the company will undoubtedly aim to find a leader capable of continuing the momentum and innovative spirit that Kaplan embodied. His departure leaves a legacy of bold transformations and growth, setting a high bar for whoever steps into his shoes.
Kaplan’s career at PepsiCo serves as a testament to the power of visionary leadership in driving brand evolution and business success. As he moves on to new horizons, the marketing world will keenly watch his next moves, eager to see how he will apply his talents in a fresh context.
