PepsiCo, the leading snack and beverage company has announced the following changes in its top team:
Brian Cornell, the former Wal-Mart Stores Inc. senior executive would be heading PepsiCo Americas food division, the company’s largest business globally. Last year this business unit generated $ 23 Billion as revenue, a third of its global revenue, and also contributed to half of its operating profit.
Presently, this position is being held by John Compton, a PepsiCo veteran, who would now move on to the position of President. This is a newly created position and has responsibility for global categories like beverages and snacks. The position would also be leading the operating functions like procurement, marketing and corporate strategy.
Brian Cornell as well as John Compton, along with Zein Abdalla, CEO, PepsiCo Europe, are being hinted as being the prime contenders for Indra Nooyi’s position. Indra Nooyi’s has been the company’s Chairman and CEO, and has been of late facing investor dissatisfaction considering the market lead taken by Coca Cola. It is being observed that Indra Nooyi’ has not been able to boost the company’s stock after taking over as the CEO in 2006.
You may also want to look at our earlier report: Contenders for the top position at PepsiCo , and PepsiCo Said to Be in Talks to Recruit Former Wal-Mart Executive Cornell