8-KLeadership Changes

PEPSICO INC 8-K Report, Executive Changes (Mar 16, 2011)

Filed March 16, 2011For Securities:PEP

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.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially announce the designation of Timothy P. Cost as an executive officer of PepsiCo, Inc., and to detail his role as Executive Vice President, Global Corporate Affairs.

Mr. Cost's appointment is significant as it signals PepsiCo's strategic emphasis on enhancing its corporate reputation, communications, public policy, and investor relations. His extensive background suggests a commitment to strengthening external stakeholder engagement and managing the company's public image proactively.

This role is responsible for strengthening and protecting PepsiCo's corporate reputation, strategically aligning its communications, public policy, foundation, investor relations, global health and agricultural policy, and regulatory agendas.

Timothy P. Cost joined PepsiCo in December 2010 and reports directly to PepsiCo Chairman and CEO Indra Nooyi.