01:38 PM EST, 02/20/2025 (MT Newswires) -- PepsiCo ( PEP ) is joining the trend of companies scaling back on initiatives promoting diversity, equity, and inclusion, or DEI, Bloomberg reported Thursday, citing a memo from chief executive Ramon Laguarta.

The company will halt workforce representation targets and remove the role of chief DEI officer. It will also include all small businesses in its supplier diversity program, according to the memo referenced by the news outlet.

The contents of the memo were confirmed by a PepsiCo ( PEP ) spokesperson, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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