WHEN LAXMAN NARASIMHAN was hired to be the next Starbucks CEO in September, he joined a club that includes the chief executives of some of America’s biggest and best-known companies—Brian Cornell of Target, Chris Kempczinski of McDonald’s, Ed Bastian of Delta Air Lines, Al Kelly Jr. of Visa, Ron Coughlin of Petco, Lauren Hobart of Dick’s Sporting Goods, Vivek Sankaran of Albertsons, Dave Kimbell of Ulta Beauty, Mary Dillon of Foot Locker, and Ann Mukherjee of Pernod Ricard North America.
What do these leaders have in common? They all spent significant time rising through the ranks of the same company. But they aren’t alums of the expected academy companies” known for turning out leadership talent, such as Procter Gamble, nor a buzzy tech pioneer famous for its management culture.
No, these chief executives earned their chops selling fizzy drinks, hummus, and chips at PepsiCo.
Formed back in 1965 when the Pepsi-Cola company and Frito-Lay merged, PepsiCo has produced 16 current Fortune 500 CEOs, an analysis by Fortune found. We looked at companies whose alumni now lead at least five Fortune 500 companies, and found that PepsiCo is one of the most proficient corporations when it comes to leadership development, trailing only the management consulting firm McKinsey and General Electric. And there are hundreds more C-suite executives with PepsiCo pedigrees in the Fortune 500, as well as CEOs outside the Fortune 500, like those of Petco or Boston Beer Co.
In other words, PepsiCo, which brings in 80 billion a year in revenue, is a veritable CEO factory.
This story is from the December 2022 - January 2023 edition of Fortune US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2022 - January 2023 edition of Fortune US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
What Even I/s Luxury?
After two decades of covering food, travel, and the finer things in life, a writer still sometimes wonders, \"Am I doing this right?\"
HOT MESS
Huy Fong sriracha rose from nowhere to become an iconic American food brand. Here's how a feud between partners knocked it off its throne.
BIG PHARMA'S MONKEY BUSINESS
A CRACKDOWN ON MACAQUE SMUGGLING HAS DISRUPTED A VITAL DRUG DEVELOPMENT SUPPLY CHAIN. INSIDE THE HIGHSTAKES BATTLE OVER THE FUTURE OF AMERICAN MEDICAL INNOVATION, AND THE PRIMATE SPECIES IT DEPENDS UPON.
THE CHINA DILEMMA
For decades, American companies came to China to tap into a vast opportunity. As geopolitical tensions rise, it's getting much harder to stay-and it's just as hard to leave.
FACE TO FACE WITH FAILURE
ECONOMIC TURMOIL POSES A DAUNTING CHALLENGE TO FOUNDERS: BALANCING THEIR STARTUPS' FUTURE WITH THEIR OWN MENTAL HEALTH.
ROAD KILL
BIRD'S ELECTRIC SCOOTER BUSINESS HAD ALL THE MAKINGS OF THE NEXT
RUNNING OUT OF OXYGEN
VENTURECAPITAL-FUNDED PRIVATE MARKETS FUELED THE CREATION OF HUNDREDS OF BILLION-DOLLAR STARTUPS OVER THE PAST DECADE. NOW THOSE MARKETS ARE IN UPHEAVALAND THE UNICORNS ARE IN CRISIS.
5 Steady-Rising Stocks for 2024
Cast aside in the surge of enthusiasm for all things tech, these five non-tech options are arguably poised for big years ahead.
The Unexpected Upside of an Aging Workforce
Hiring and retaining older workers can help boost your company's bottom line.
Al's Battle Shifts to the Corridors of Power
Tech companies are sparring with regulators over how they can use and develop artificial intelligence.