PepsiCo bottling partner Varun Beverages has appointed Pankaj Madan as its new Chief Financial Officer, effective July 30, 2025. Madan brings over 35 years of cross-sector experience in finance leadership roles, including stints at IndiGo, Bharti Walmart, and InterGlobe Enterprises. His appointment comes as the company navigates market headwinds, including a recent 3% volume dip due to early monsoon rains.