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PURCHASE, N.Y. & MINONG, Wis. -- PepsiCo announced the appointment of Timothy P. Cost to the newly created role of executive vice president, global corporate affairs.
Cost, who will assume the role effective Dec. 1, will be responsible for strengthening and protecting PepsiCo's corporate reputation and strategically aligning its communications, public policy, foundation, investor relations, global health and agricultural policy and regulatory agendas, the company stated.
"As the role of corporations in society continues to evolve, it is critical that we be very thoughtful, strategic and consistent in how we reach out to our many different stakeholders," PepsiCo Chairman and CEO Indra Nooyi said in the statement. "Tim is a very talented leader whose depth and breadth of experience will help us take a holistic view of our external relations and forge strong, productive and mutually beneficial relationships, consistent with our global commitment to Performance with Purpose."
With nearly 30 years of corporate affairs and investor relations experience, Costs' past positions include executive vice president of APCO Worldwide; senior vice president, corporate affairs for Wyeth; executive vice president, corporate affairs for ARAMARK; and, senior vice president, corporate affairs for Pharmacia Corporation.
In other news, Jack Link, CEO, Jack Link's Beef Jerky, was named the Ernst & Young Entrepreneur of the Year 2010 national winner in the Retail & Consumer Products category.
Selected by a panel of independent judges, Link was chosen from approximately 300 regional award recipients and was recognized for growing Jack Link's Beef Jerky from a small beer deboning operation in 1986 to the No. 1 U.S. meat snack brand, stated the company.
"This is an amazing experience, and I share it with the entire company," John (Jack) Link, chief executive officer and chairman of the board, Jack Link's Beef Jerky said in the statement. "Truly, Ernst & Young's Entrepreneur of the Year Award is the world's most prestigious business award for entrepreneurs. I am so proud to share this recognition. I feel like I am living the American Dream."
In 1987 Link Snacks began distributing meat snacks to local c-stores, rolling out its product to retailers nationwide by the 1990s. The company offers a wide-variety of shelf-stable products in various size, forms, flavors and textures. According to the company, presently Jack Link's brand has achieved a 50 percent market share and has an aggressive plan in place that sees a growth of 15 percent annually through 2015.
Ernst & Young's Entrepreneur of the Year Award encourages entrepreneurial activity and recognized leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses, the company stated. In addition to Link's recognition, awards were given in nine additional categories.