PURCHASE, N.Y., Dec. 21, 2018 /PRNewswire/ -- PepsiCo,
Inc. (NASDAQ: PEP) ("PepsiCo") announced today that
Albert P. Carey, Chief Executive
Officer, PepsiCo North America, will retire at the end of
March 2019 after nearly four decades
at PepsiCo. Vivek Sankaran, who currently serves as President
and Chief Operating Officer of Frito-Lay
North America, will now become its CEO, and Kirk Tanner, who currently serves as President
and Chief Operating Officer of North America Beverages, will become
its CEO.
![PepsiCo logo (PRNewsfoto/PepsiCo) PepsiCo logo (PRNewsfoto/PepsiCo)](https://mma.prnewswire.com/media/733556/PEPSICO_Logo.jpg)
"Al has been an invaluable leader, colleague, advisor and
friend, and will be missed by all of us at PepsiCo and all of the
customers and partners he worked with over his exemplary career,"
said Ramon Laguarta, PepsiCo Chief Executive
Officer. "Al's unique combination of style, skill,
entrepreneurial spirit and executional excellence, has helped make
PepsiCo one of the most admired businesses in the world, and raised
the bar for our current and future associates. We wish him all the
best in his next chapter. While Al leaves big shoes to fill, I
have every confidence in our North
America businesses under the skilled leadership of Vivek and
Kirk in these critical roles."
"PepsiCo has been like family to me for almost 38 years, and to
say this was a difficult decision for me is an understatement,"
said Al Carey, Chief Executive
Officer of PepsiCo North America. "I am so proud of the many
accomplishments we achieved as a team along the way, especially
with our customers and our front-line associates. PepsiCo has a
bright future and I'm excited about the compelling growth agenda
Ramon is bringing. I look forward to watching PepsiCo's continued
success for many years to come."
About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion
times a day in more than 200 countries and territories around the
world. PepsiCo generated more than $63
billion in net revenue in 2017, driven by a complementary
food and beverage portfolio that includes Frito-Lay, Gatorade,
Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio
includes a wide range of enjoyable foods and beverages, including
22 brands that generate more than $1
billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our
fundamental belief that the success of our company is inextricably
linked to the sustainability of the world around us. We believe
that continuously improving the products we sell, operating
responsibly to protect our planet and empowering people around the
world enable PepsiCo to run a successful global company that
creates long-term value for society and our shareholders. For more
information, visit www.pepsico.com.
Cautionary Statement
Statements in this communication that are "forward-looking
statements" are based on currently available information, operating
plans and projections about future events and trends. Terminology
such as "estimate," "expect," "may," "plan," "position," "will" or
similar statements or variations of such words and other similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such terms.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from those predicted in such forward-looking statements. Such risks
and uncertainties include, but are not limited to: changes in
demand for PepsiCo's products, as a result of changes in consumer
preferences or otherwise; changes in, or failure to comply with,
applicable laws and regulations; imposition or proposed imposition
of new or increased taxes aimed at PepsiCo's products; imposition
of labeling or warning requirements on PepsiCo's products; changes
in laws related to packaging and disposal of PepsiCo's products;
PepsiCo's ability to compete effectively; failure to successfully
complete or integrate acquisitions and joint ventures into
PepsiCo's existing operations; or to complete or manage
divestitures or refranchisings; changes in estimates and underlying
assumptions regarding future performance that could result in an
impairment charge; increase in income tax rates, changes in income
tax laws or disagreements with tax authorities; PepsiCo's ability
to recruit, hire or retain key employees or a highly skilled and
diverse workforce; loss of any key customer or disruption to the
retail landscape, including rapid growth in hard discounters and
the e-commerce channel; climate change or water scarcity, or legal,
regulatory or market measures to address climate change or water
scarcity; other factors that may adversely affect the price of
PepsiCo's publicly traded securities and financial performance.
For additional information on these and other factors that could
cause PepsiCo's actual results to materially differ from those set
forth herein, please see PepsiCo's filings with the Securities and
Exchange Commission, including its most recent annual report on
Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they
are made. PepsiCo undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts:
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Investors
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Media
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Jamie
Caulfield
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Carrie
Ratner
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Investor
Relations
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Corporate
Communications
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+ 1
914-253-3035
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+ 1
914-253-3817
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investor@pepsico.com
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carrie.ratner@pepsico.com
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SOURCE PepsiCo, Inc.