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Investing.com -- PepsiCo (NASDAQ:PEP), the multinational food, snack, and beverage corporation, has announced significant changes to its internal structure and strategy, introducing an ’"Inclusion for Growth" strategy, per a memo sent by CEO Ramon Laguarta.
The company, owning popular brands such as Gatorade, Quaker Oatmeal, Doritos, and more, has decided to discontinue its Diversity, Equity, and Inclusion (DEI) Officer role and DEI team. In addition, PepsiCo will no longer set DEI representation goals.
In its place, the Inclusion for Growth strategy was described as "ensuring a culture of inclusion where excellence and contribution drive success" and cited people, business, and community to be its main drivers.
This follows several other large companies, such as Amazon (NASDAQ:AMZN) and Meta (NASDAQ:META), in policy changes after the reelection of President Trump, an outspoken opponent of DEI, and escalating activist pressure against DEI.
PepsiCo will also cease all DEI training and ensure that all sponsorships align with its business objectives. In a shift from supplier diversity, the company will now concentrate on expanding its small business supplier base.
The management of all employee groups will be centralized to ensure their activities align with the core business. The changes reflect a strategic shift towards growth and how the company drives growth to its business.
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