Summary
PepsiCo, Inc. (PEP) filed an 8-K report on March 16, 2011, to announce a significant change in its executive team. Effective March 11, 2011, Timothy P. Cost was officially designated as an executive officer of the company. Mr. Cost, who joined PepsiCo in December 2010, holds the newly created position of executive vice president, Global Corporate Affairs. This appointment signifies PepsiCo's strategic focus on bolstering its corporate reputation and aligning its external communications, public policy, and investor relations functions. Mr. Cost brings extensive experience from previous executive roles in corporate affairs and investor relations at major companies such as Wyeth, ARAMARK, and Pharmacia Corporation, indicating a deliberate effort by PepsiCo to enhance its engagement with stakeholders and manage its public image effectively.
Key Highlights
- 1Timothy P. Cost officially designated as an executive officer of PepsiCo, Inc., effective March 11, 2011.
- 2Mr. Cost appointed to the newly created role of Executive Vice President, Global Corporate Affairs.
- 3His responsibilities include strengthening corporate reputation, strategic communications, public policy, foundation, investor relations, and regulatory agendas.
- 4Mr. Cost joined PepsiCo in December 2010, reporting directly to Chairman and CEO Indra Nooyi.
- 5The filing highlights Mr. Cost's extensive experience (nearly 30 years) in corporate affairs and investor relations at prominent companies.
- 6Previous roles include executive positions at APCO Worldwide, Wyeth, ARAMARK, Pharmacia Corporation, Bristol-Myers Squibb, and Eastman Kodak.