The advertising giant will oversee planning, ad purchasing, data, technology and artificial intelligence for famous brands including Pepsi, Lay’s and Gatorade. PepsiCo awarded Publicis the business without holding a traditional competition, replacing an agency that had handled its global advertising for more than 25 years.

Badinter is the daughter of Jewish entrepreneur Marcel Bleustein-Blanchet, who founded Publicis in a small Paris apartment in 1926. She remains a significant shareholder and serves as vice-chair of its board.

The $1.7 billion represents advertising money Publicis will manage, not a single payment to the company. It is still one of the advertising industry’s biggest and most powerful global victories.