8-KLeadership Changes

PEPSICO INC 8-K Report, Executive Changes (Mar 4, 2010)

Filed March 4, 2010For Securities:PEP

Summary

This 8-K filing by PepsiCo, Inc. (PEP) on March 3, 2010, announces a significant leadership change within its beverage division. Effective February 26, 2010, Eric J. Foss has been appointed as the Chief Executive Officer of Pepsi Beverages Company (PBC), previously known as PepsiCo Bottling North America. PBC is a substantial part of PepsiCo's operations, encompassing 75 percent of the company's U.S., Canada, and Mexico beverage business and employing over 70,000 people. Mr. Foss's extensive background with The Pepsi Bottling Group, Inc. (PBG) and various roles within PepsiCo since 1982, including his recent leadership at PBG, positions him to lead this crucial segment. This appointment follows the merger of PBG with PepsiCo, suggesting a strategic move to consolidate leadership and drive performance within the beverage operations. Investors should note this as a key personnel update impacting a major business segment.

Key Highlights

  • 1Eric J. Foss appointed CEO of Pepsi Beverages Company (PBC) effective February 26, 2010.
  • 2PBC was formerly known as PepsiCo Bottling North America.
  • 3PBC represents 75% of PepsiCo's beverage business in the U.S., Canada, and Mexico.
  • 4PBC employs over 70,000 people.
  • 5The appointment follows the merger of The Pepsi Bottling Group, Inc. (PBG) with PepsiCo.
  • 6Eric J. Foss has a long tenure with PepsiCo and PBG, including previous CEO and Chairman roles at PBG.
  • 7Mr. Foss will report to Indra Nooyi, Chairman and CEO of PepsiCo, Inc.

Frequently Asked Questions

Eric J. Foss's appointment as CEO of Pepsi Beverages Company (PBC) is significant because PBC is a critical segment, representing 75% of PepsiCo's beverage business in key North American markets and employing a large workforce. His leadership is expected to drive performance and integration following the merger of PBG with PepsiCo.

Pepsi Beverages Company (PBC) is the division formerly known as PepsiCo Bottling North America. It is responsible for the company's beverage operations in the U.S., Canada, and Mexico, and is a substantial contributor to PepsiCo's overall business.

Eric J. Foss has a deep history within the Pepsi system, having joined Pepsi-Cola Company in 1982. He held numerous positions with increasing responsibility and most recently served as Chairman and CEO of The Pepsi Bottling Group, Inc. (PBG) before its merger with PepsiCo.

The appointment of Eric J. Foss, who was the former CEO and Chairman of PBG, to lead the newly consolidated PBC suggests a strategic move by PepsiCo to leverage his experience and leadership to effectively manage and integrate the combined beverage bottling operations following the PBG merger.