FIRST ON FOX – Pepsi is set to announce they will no longer factor representation metrics into their executive compensation, according to draft language first obtained by Fox News Digital.
“Our 2025 compensation programs for our executive officers do not include representation metrics. As we have always done, we will continue to hire and promote the best talent, ensuring we reflect the skills and perspectives needed to succeed in a competitive market. The Company has sunset its previous aspirational representation goals,” draft language set to be added to Pepsi’s website stated.
The soda-maker had been under pressure from the activist investor group National Legal and Policy Center, which was lodging a shareholder proposal calling for the company to stop including representation metrics in executive pay.
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Pepsi, which had already announced they are sunsetting their representation metrics in hiring earlier this month, agreed to update their website language to clarify that they will no longer be included in executive compensation in exchange for the NLPC withdrawing their proposal.
Although a representative for the company insisted that the beverage and snack conglomerate’s initial email indicated that representation metrics were being removed from the company wholesale, today’s language is just a clarification of their existing policy.
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The activist group, however, considers Pepsi’s anticipated announcement to be a major victory in the fight against DEI, and hopes other companies will follow suit.
“We commend Pepsi for taking this step in removing this critical component of DEI policies… If you don’t disincentivize leadership from DEI goals, then the policies will remain regardless,” NLPC Corporate Integrity Project Paul Chesser told Fox News Digital. “We trust Pepsi will follow through and call upon other companies to similarly eliminate these pay policies for executives.”
Pepsi’s initial letter announcing the DEI rollbacks mentioned numerous policy changes, including removing their chief diversity officer position, sunsetting representation metrics, and centralizing their employee resource groups – many of which were race-based.
The Mountain Dew and Fritos maker joins a growing list of companies that are ditching DEI, including Harley-Davidson, John Deere and Walmart.
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