PEP PepsiCo Inc

By Colin Kellaher 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (December 24, 2018).

PepsiCo Inc. on Friday said Albert Carey, chief executive of PepsiCo North America, will retire at the end of March after nearly 40 years with the beverages and snacks giant.

Mr. Carey, who assumed his current post in March 2016, oversees the Purchase, N.Y., company's PepsiCo North America Beverages, Frito-Lay North America and Quaker Foods North America divisions, which together accounted for about 62% of revenue and 75% of operating profit for the first nine months of PepsiCo's current fiscal year.

PepsiCo is dividing Mr. Carey's duties among the current leaders of its North American divisions.

PepsiCo said Vivek Sankaran, who currently serves as president and chief operating officer of Frito-Lay North America, and Kirk Tanner, who succeeded Mr. Carey as president and chief operating officer of PepsiCo North America Beverages in March 2016, will become CEOs of their respective units.

PepsiCo said Mr. Carey will transition from his current post effective Jan. 1.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 24, 2018 02:47 ET (07:47 GMT)

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