PepsiCo Units See Changes at the Top

PURCHASE, N.Y. -- Two PepsiCo beverage units are undergoing leadership changes. PepsiCo Americas Beverages is getting a new CEO as the CEO of another operating unit, Pepsi Beverages Co. (PBC), announces his retirement.

Albert P. Carey has been named CEO of PepsiCo Americas Beverages and assumes responsibility for all aspects of the beverage businesses in the Americas immediately, according to a company announcement.

Carey, a 30-year veteran of PepsiCo, recently served as president and CEO of Frito-Lay North America, where he led the snack and convenient foods business since June 2006. He also has extensive experience in PepsiCo's beverage businesses, having previously served as president of PepsiCo Sales, where he led sales and customer management for the company's retail, foodservice and fountain businesses.

"Al's highly collaborative leadership style, deep knowledge of our beverage businesses in North America and his past leadership of our 'Power of One' strategy make him the right choice to lead this flagship business," said PepsiCo Chairman and CEO Indra K. Nooyi. "I am looking forward to working with Al in his new role, and taking our beverage business in the Americas to new levels of success."

Massimo d'Amore, who has been leading PepsiCo Beverages Americas, will retain responsibility for the North American Gatorade and Tropicana businesses, as well as the Latin American beverage business. He will report to Carey. In addition, d'Amore will continue to lead the Global Beverages Group, focused on global breakthrough innovation, global research and development and global brand management, as its president, reporting to Nooyi.

"Massimo has achieved, with his team, great success in creatively revitalizing and repositioning multiple beverage brands across the world," Nooyi said. "Given these outstanding results, we look forward to extending these successes on a global scale."

Tom Greco will assume the role of president for Frito-Lay North America. He most recently served as executive vice president and chief commercial officer for Pepsi Beverages Co. Prior to his role in the beverages business, Greco was president of PepsiCo Sales, leading the "Power of One" customer teams. He has also held a variety of senior positions within Frito-Lay, including president of Frito-Lay Canada.

In addition, Eric Floss, CEO of Pepsi Beverages Co., plans to step down effective Dec. 9, according to the company. Foss has led PBC since February 2010, when he joined PepsiCo as part of the company's merger with its North American bottling operations. Prior to the merger, Foss was chairman and CEO of the publicly traded Pepsi Bottling Group from 2006 to 2010. PepsiCo appointed Foss as head of PBC to facilitate the successful integration of the bottling operations into PepsiCo and to deliver agreed-upon synergies.

As reflected in the terms of his agreement, Foss intends to return to a senior leadership role of a public company. During his tenure at PBC, he provided steady leadership throughout the transition period and, with his team, delivered substantial synergies to PepsiCo, the company said.

"Eric has been a key member of the PepsiCo leadership team and has been a respected leader across global beverages for many years," Nooyi said. "We are grateful to Eric for his willingness to stay with us for nearly two years to ensure a successful integration, and we are now well-positioned for the future. His deep operating experience and business savvy have been great assets to our company, and we wish Eric all the best in his future endeavors."

Foss will begin working immediately with the company's new beverage leadership team as part of the management transition.