After nearly two decades at PepsiCo, Todd Kaplan, the Chief Marketing Officer (CMO) responsible for revitalizing the flagship brand, has announced his departure to pursue an external opportunity. The news, first reported by Ad Age and confirmed by Kaplan on LinkedIn, marks the end of an era characterized by significant brand transformations and strategic innovations.
Kaplan, who ascended to the role of CMO in 2022 after serving as Vice President of Marketing for over three years, has been instrumental in driving the brand’s resurgence. His tenure saw the acceleration of Pepsi Zero Sugar’s growth, the expansion of PepsiCo’s water portfolio, and a strategic shift away from the Super Bowl Halftime Show towards new content and direct-to-consumer channels.
Reflecting on his journey at PepsiCo, Kaplan shared, “I’ve had the opportunity to work with amazing teams, to create and launch new brands, to reimagine and build upon the legacy of some of our most iconic brands, to generate some of the biggest cultural moments, to push the boundaries of creativity and our industry forward, and to learn and laugh a ton along the way.”
Innovative Marketing and Brand Overhaul
One of Kaplan’s notable achievements was overseeing Pepsi’s first visual overhaul in 14 years in 2023. This maximalist rebrand was a pivotal component of the brand’s 125th-anniversary celebrations, accompanied by an extensive marketing campaign that reinvigorated the brand’s visual identity.
A spokesperson for PepsiCo commented on Kaplan’s departure, stating, “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.”
Navigating a Fragmented Media Landscape
Kaplan’s leadership at Pepsi coincided with increasing fragmentation in the marketing and media landscape. His strategy often focused on aligning the brand with cultural trends and leveraging emerging channels. Recently, he spearheaded the launch of a flavored extension for Bubly and collaborated with celebrity chef Bobby Flay to bolster Pepsi’s food-centric initiatives.
In a 2022 interview with Marketing Dive, Kaplan remarked, “It’s the best of times for marketers because there are so many new and exciting platforms and ways to reach and engage with consumers. But it’s also really challenging to reach consumers through all those platforms because each has different formats, different needs, different content rules.”
Rising Competition and Market Dynamics
Kaplan’s exit occurs amidst intensifying competition in the beverage industry. Both Pepsi and its main rival, Coca-Cola, are actively marketing new products, including zero-sugar and health-oriented options. The resurgence of the “cola wars” is evident, with non-cola competitor Dr Pepper tying Pepsi as the second most popular carbonated soft drink brand, according to Beverage Digest data cited by the Wall Street Journal.
While Kaplan has not disclosed specifics about his future plans, his use of a rocket ship emoji in his LinkedIn post suggests a venture into a dynamic and potentially high-growth area.
As PepsiCo navigates this transition, the legacy of Kaplan’s innovative and bold marketing strategies will undoubtedly influence the brand’s future trajectory in the highly competitive beverage market.