Pepsi is realizing the power of design. So much so that the company has hired Mauro Porcini of 3M to be Pepsi's first Chief Design Officer. The role of the CDO will be to create a culture of design at Pepsi and globally manage design for brands. Everything from packaging to advertising to industrial design and digital experiences will see the benefits of this renewed focus on design. This comes alongside Pepsi's commitment to spend an additional $500-$600 million in marketing. Pepsi has a lot of catching up to do, especially against globally iconic brands like Coca Cola that have built equity in consistent design over the past 126 years.