PepsiCo. (PEP) Appoints Former CEO Cornell as Americas Chief; Announces Structure Adjustment

PepsiCo, Inc. (NYSE: PEP) today announced a new global structure and strengthened management team -- important steps in PepsiCo's move to become a fully integrated, global food and beverage company. In the new structure, while the regions retain ownership of the P&L, PepsiCo's global groups will work across the regions to fully leverage the power and scale of the company. Consistent with this shift, PepsiCo announced the following leadership changes, effective immediately:

• Former PepsiCo executive Brian Cornell has rejoined the company as CEO, PepsiCo Americas Foods. Cornell most recently was President and CEO, Sam's Club, a division of Wal-Mart Stores, Inc.
  
  
• Current PepsiCo Americas Foods CEO John Compton has been named to a new position – President, PepsiCo.

As CEO, PepsiCo Americas Foods, Cornell will report to Nooyi and be responsible for Frito-Lay North America, Quaker Foods & Snacks North America, PepsiCo Mexico, South America Foods, PepsiCo customer teams and all Power of One activities within the Americas.

As President, Compton will continue to report to Nooyi and assume responsibility for all of PepsiCo's existing global category groups (Global Beverages, Global Snacks and Global Nutrition), Global Operations (IT, Global Procurement, Supply Chain and Productivity), Global Marketing Services and Corporate Strategy.

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