8-KLeadership ChangesRegulation FDExhibits & Filings

PEPSICO INC 8-K Report, Executive Changes (Sep 14, 2011)

Filed September 14, 2011For Securities:PEP

Summary

PepsiCo, Inc. (PEP) announced a significant leadership transition within its beverage division through an 8-K filing on September 14, 2011. Eric J. Foss is retiring as Chief Executive Officer of Pepsi Beverages Company, with his retirement effective December 9, 2011. Mr. Foss will transition into a new role to assist with the management handover. The company has also appointed Albert P. Carey as the new Chief Executive Officer of PepsiCo Americas Beverages, effective September 14, 2011, reporting directly to Indra K. Nooyi, Chairman and CEO. This move signals a strategic reshuffling to ensure continuity and leverage experienced leadership within key operational segments of the company.

Key Highlights

  • 1Eric J. Foss, CEO of Pepsi Beverages Company, announced his retirement effective December 9, 2011.
  • 2Albert P. Carey, previously President and CEO of Frito-Lay North America, has been appointed CEO of PepsiCo Americas Beverages.
  • 3Thomas R. Greco, formerly Executive Vice President and Chief Commercial Officer of Pepsi Beverages Company, is now President of Frito-Lay North America.
  • 4Massimo Fasanella d Amore will retain leadership of Gatorade, Tropicana North America, Latin American beverage business, and will also lead the Global Beverage Group.
  • 5The appointments reflect PepsiCo's strategy to promote from within and utilize seasoned executives in critical leadership roles.
  • 6The filing includes press releases detailing the retirement and the appointment of Mr. Carey.

Frequently Asked Questions

While Eric J. Foss is retiring as CEO of Pepsi Beverages Company effective December 9, 2011, Albert P. Carey has been appointed as the new Chief Executive Officer of PepsiCo Americas Beverages, effective September 14, 2011, reporting to Chairman and CEO Indra K. Nooyi. Mr. Foss will be involved in the transition process.

Albert P. Carey has a long tenure with PepsiCo, starting in 1981. Most recently, he served as President and Chief Executive Officer of Frito-Lay North America since June 2006. His extensive experience within the company's various divisions makes him a well-qualified successor.

Yes, Thomas R. Greco has been appointed as the President of Frito-Lay North America, succeeding Albert P. Carey in that role. Massimo Fasanella d Amore will continue to oversee PepsiCo's Gatorade and Tropicana businesses in North America, its Latin American beverage business, and will also lead the Global Beverage Group.

These changes indicate a focus on internal promotion and leveraging established leadership talent to ensure stability and drive growth within PepsiCo's core beverage and snack businesses. The appointments suggest a commitment to continuity and experienced management in key operational areas of the Americas.