The 2022 report reveals PepsiCo is continuing to make progress on its DE&I goals, part of the company's pep+ (PepsiCo Positive) agenda.
Results show women now hold 44% of management roles globally, while U.S. Black and Hispanic representation at manager level increased to 9% and 10.1%, respectively, reflective of the workforce availability of the communities in which PepsiCo operates.
PURCHASE, N.Y., May 31, 2023 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today published its most recent Global Diversity, Equity and Inclusion (DE&I) Report, illustrating actions that are driving equity and further embedding pep+ into the organization. Key accomplishments include making progress on gender parity in management globally, maintaining pay equity, while supporting historically marginalized communities around the world. To help ensure the report can be read and understood by all communities, PepsiCo included content by video and audio in addition to a written report.
As a result of progress in DE&I, PepsiCo has been recognized in rankings such as Fortune's World's Most Admired Companies, Seramount's Top Companies for Executive Women, Diversity Inc's Top Companies for Diversity, and Disability Equality Index's Best Places to Work for Disability Inclusion.
"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's 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 DE&I Report shared progress across the company's three strategic pillars, including:
A space for people to be themselves
PepsiCo is advancing gender parity in managerial roles globally, with progress currently at 44% and trending toward the goal of 50% by 2025.
Black and Hispanic representation in the U.S. increased at the managerial level to 9.0% and 10.1%, respectively
A space for business partners to grow
PepsiCo continues to spend more than $1 billion annually with diverse suppliers – contributing to an overall spend of nearly $30 billion across PepsiCo's value chain over the past 40 years of its Supplier Diversity program.
Through 2022, the company supported nearly 1,000 Black-owned and Hispanic-owned businesses through innovative platforms – including the PepsiCo Foundation's Black Restaurant Accelerator program and PepsiCo Juntos Crecemos – which offer coaching, marketing, online presence support, and delivery logistics.
Brands continue to leverage their platforms with purpose-driven campaigns, including:
A space for communities to thrive
Unlocking opportunities and cultivating future talent through the Rania Rizk Young Arab Women Leaders Scholarship program.
Meeting the needs of local communities by leveraging employee time and talents to help indigenous people succeed.
"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 digital and interactive 2022 DE&I Report includes a snapshot of PepsiCo's diversity journey, actions against each of its strategic pillars, progress against its goals, and additional assets to learn more about DE&I initiatives. The report and downloadable assets are available here.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. 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. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.
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SOURCE PepsiCo, Inc.