• by Tanya Gazdik , June 5, 2024

Pepsi CMO Todd Kaplan is departing the company after almost two decades.

Kaplan broke the news in a LinkedIn post.

“Since joining PepsiCo as an MBA intern, I’ve been fortunate to be able to cram the equivalent of 10 careers into one,” said the outgoing CMO, who has been at the company for 17 years. “Life is a story filled with chapters – as one comes to an end, a new one begins.”

Kaplan did not state what his next move might be, and some publications are speculating about an emoji he used in the social post. 

"In a cryptic LinkedIn post, he had left to 'pursue an opportunity outside of the company'. He accompanied the message with an emoji rocket ship," according to the Daily Mail. 

Kaplan began his career at the drinks giant in 2006 as an intern before becoming marketing director for Mountain Dew and then senior director for global innovation, insights and incubation brands. 

“In this innovation role, Kaplan led a team tasked with generating incremental value across five global business sectors,”  according to Marketing Week. “Kaplan was named Pepsi CMO in 2022, ascending to PepsiCo’s global marketing excellence team. Notably under his leadership, Kaplan led Pepsi’s first rebrand in 14 years, creating a new logo and visual identity to help drive brand distinction.”

Most recently, Kaplan was responsible for PepsiCo’s $11.5 billion U.S. Cola, Root Beer, and Sparkling Water brands including Pepsi, Bubly Sparkling Water and MUG.

“In this job, he led development and execution of all creative and brand communications, brand strategy, innovation, and annual operating plan and was tasked with re-imagining Pepsi for future,” according to Brand Innovators. 

That included accelerating growth of Pepsi Zero Sugar, expanding the Bubly Sparkling Water portfolio into new categories and spaces, and creating new content models while building team DTC capability.

Competition among soda brands is fierce. Dr Pepper has gone ahead of Pepsi as the number two soda brand in the country in 2023, according to market share data from Beverage Digest.

“Coke is the leader by a comfortable margin,” according to CNN. “Last year, it captured 19.2% of the soda market in the United States by volume, Beverage Digest’s data shows. Dr Pepper and Pepsi both had 8.3%, with Dr Pepper technically ahead. After that came other brands owned by Coca-Cola: Sprite came in at 8.1% and Diet Coke at 7.8%.”