Thread regarding PepsiCo Inc. (Pepsi) layoffs

The majority of PepsiCo’s C-suite level executives received signicant pay boosts last year, reecting the company’s climbing prots, according to its most recent proxy statement.
In 2022, PepsiCo posted net income of $8.9 billion, up from 2021’s $7.6 billion, a rise of 17.1%. Revenue rose to $86.4 billion from $79.5 billion, a jump of 8.7%.
The biggest compensation jump went to company Chairman and CEO Ramon Laguarta. He received compensation totaling $28.4 million last year, up from $25.5 million in 2021, a bump of 11.3%. Much of that is tied to payouts under the company’s long-term and short-term incentive plans. Laguarta received $12.5 million in 2022, up from 2021’s $10.2 million. He also received $9.4 million in stock awards, up from $8.7 million in 2021. His base salary jumped to $1.64 million, up from $1.54 million 2021.
Laguarta’s additional compensation reached $602,600 last year, up from about $581,000 in 2021. More than $469,000 was tied to his private use of company aircraft. Laguarta also received more than $28,000 to cover the cost of a leased vehicle and its fuel costs.
Steven Williams, who heads up PepsiCo’s food division in North America, had the biggest pay boost by percentage last year. He received total compensation of $8.1 million, up from $6.3 million in 2021, an increase of 28.5%. A lot of that was tied to incentive payouts totaling $4.4 million, up from $1.8 million in 2021. He also received $2.3 million in stock awards, up from 2021’s less than $2 million.
Vice Chairman and CFO Hugh Johnston saw his 2022 compensation reach nearly $13.4 million, up from $13.2 million in 2021. Incentive payouts reached $6.4 million, up from 2021’s $5.6 million. Most of Johnson’s other pay metrics were at. One exception was non-qualied deferred compensation and its relative pension value, which dropped to $1.21 million last year from $1.85 million in 2021. Johnston received more than $131,00 in additional compensation, including more than $106,000 in private air travel.
Silviu Popovici, PepsiCo’s CEO of European operations, received $9.4 million in total pay last year, up from $8.5 million in 2021. That included 2022 incentive payouts of $4.3 million, up from $2.85 million in the prior year. He also received $1.9 million in additional compensation, down from $2.63 million in 2021. Part of that were expenses tied to his relocation to the U.S. from Switzerland, although $1.46 million was dedicated to covering “taxes on his compensation in excess of the taxes he would have incurred in his home country,” PepsiCo said in its proxy statement.
The only member of the PepsiCo C-suite to see their pay dip last year was Kirk Tanner, who heads up its North American beverage division. He received $6.75 million in total compensation, down from $8.39 million in 2021, a decrease of 19.6%. Tanner did not receive any deferred compensation in 2022, compared to $1.6 million in 2021.