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UPDATE 1-Pepsi reshuffles North America top management

Published 2016-03-30, 05:49 p/m
© Reuters. UPDATE 1-Pepsi reshuffles North America top management
PEP
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March 30 (Reuters) - PepsiCo (NYSE:PEP) Inc PEP.N promoted the head
of its North America beverages business to chief executive for
the region and said the head of its Frito-Lay snacks business
there was leaving the company.
Al Carey, a 35-year veteran of PepsiCo, will become the
North America CEO and oversee the company's beverages, Frito-Lay
and Quaker Foods divisions in the region, the company's biggest
market by sales.
PepsiCo said Tom Greco, who has led Frito-Lay North America
since 2011 and joined PepsiCo in 1986, is leaving to pursue his
goal of becoming a CEO of a company outside the food and
beverage industry.
Frito-Lay is the company's most profitable business, with
the Frito-Lay North America division accounting for about 24
percent of the company's total revenue at the end of its fourth
quarter.
Pepsi also said it appointed Kirk Tanner, the president of
its global foodservice unit, as chief operating officer to its
North America beverages unit, and promoted Vivek Sankaran to
president and COO of Frito-Lay North America.
Both Tanner and Sankaran will report to Carey.
Up to Wednesday's close, PepsiCo's shares had risen about 7
percent over the past 12 months.

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