
PepsiCo, the global food and beverage giant, has adopted a groundbreaking viewpoint-neutral advertising policy, marking a significant shift in corporate America’s approach to media investments and content strategies.
We’re return to normality!
At a Glance
- PepsiCo introduces a viewpoint-neutral advertising policy to prevent politicized ad buys
- Decision influenced by shareholder engagement and Alliance Defending Freedom (ADF) attorneys
- Policy change follows dissolution of Global Alliance for Responsible Media (GARM) after Elon Musk lawsuit
- ADF Senior Counsel Jeremy Tedesco praises move as step towards protecting free speech
- Over 60 ADF-backed resolutions filed for upcoming proxy season
PepsiCo’s New Media Policy: A Victory for Viewpoint Neutrality
In a move that’s sending ripples through the corporate world, PepsiCo has unveiled a new media policy rooted in viewpoint neutrality.
Yes…neutrality!
This policy, now prominently displayed on their website, aims to ensure that the company’s media-buying and content strategies remain free from political or religious bias. The decision comes as a response to increasing pressures for corporate transparency and inclusivity, particularly significant for a company managing iconic brands like Frito Lay and Quaker Oats.
The policy change was instigated by a shareholder proposition and involved engagement with parties like the Alliance Defending Freedom (ADF), who had expressed concerns about potential viewpoint discrimination. This development represents a commitment to fair representation in media investments, especially noteworthy in the wake of controversies surrounding the Global Alliance for Responsible Media (GARM), a now-dissolved digital safety initiative criticized for its perceived lack of neutrality.
PepsiCo puts out 'viewpoint neutral' media-buying and content policy on website https://t.co/nlU4D234Pi
— FOX Business (@FoxBusiness) January 24, 2025
Do you realize how huge this is?
The Catalyst: Shareholder Engagement and ADF’s Influence
The journey to PepsiCo’s new policy began with a shareholder resolution filed by David Bahnsen, questioning the company’s ad buying practices through GARM. This action, supported by ADF attorneys, ultimately led to the policy change. Jeremy Tedesco, ADF Senior Counsel and Senior Vice President for Corporate Engagement, lauded the decision, stating, “This is a big step in restoring corporate America to its proper place in our society, and I applaud PepsiCo for making this crucial change.”
“This is a big win when it comes to shareholders engaging and trying to hold corporations accountable for censorship,” ADF SVP of Corporate Engagement Jeremy Tedesco said.
PepsiCo’s decision is one of three early victories for ADF-backed resolutions in the 2025 proxy season. The organization has filed over 60 resolutions for the upcoming season, resulting in at least 25 meetings with corporate leaders. These efforts aim to promote corporate accountability and protect free speech in the business world.
The Global Alliance for Responsible Media (GARM), of which PepsiCo was previously part, disbanded in 2024 following a lawsuit by Elon Musk. GARM, established by the World Federation of Advertisers in 2019 to improve digital safety, faced criticism for allegedly censoring conservative and religious views and pressuring platforms like Spotify.
The dissolution of GARM and PepsiCo’s subsequent policy change highlight a growing trend of corporations reevaluating their approach to media investments and content strategies. This shift towards viewpoint neutrality could potentially reshape how major brands interact with diverse audiences and navigate the complex landscape of political and religious viewpoints in their advertising efforts.