US: PepsiCo creates North American division
PepsiCo, one of the world's largest food and beverage companies, today (15 September) unveiled a new structure for its North America businesses, which will be presided over by John Compton who will assume the newly created role of CEO North America.
PepsiCo's worldwide operations will be organised into two entities - the new North America division and the exiting PepsiCo International division - both of which will report to the corporation's president and CEO-designate Indra Nooyi.
"This structure will provide even greater coordination across PepsiCo and is the logical next step in the 'Power of One' initiatives we have been pursuing for over a decade. It strikes the proper balance between the leadership and collaboration required to generate continued growth in our North American businesses while maintaining the independence of the divisions which has been such an instrumental part of PepsiCo's success," said Nooyi. "Our individual businesses are headed by extraordinary leaders who are doing an excellent job running their operations, yet there is unquestionably more value to be realized by approaching our consumers and retail partners as a fully integrated enterprise."
Nooyi said that the successful operation of PepsiCo International, which was formed in 2003, has proven that this is the right formula for future growth. "Since the PI division was created, its businesses are developing successfully and the entire international portfolio has delivered consistently outstanding performance, marked by 13 consecutive quarters of double-digit revenue and profit growth. We are confident the new North American structure will enhance effectiveness and drive added momentum there as well," Nooyi commented.
Taking the helm at PepsiCo North America Compton, a PepsiCo veteran with 23 years experience in snacks, beverages and foods, had been president and CEO of the Quaker Tropicana Gatorade division since 2005.
Commenting on Compton, Nooyi said: "John is one of our most experienced executives and has literally grown up in the company. He has a deep knowledge and appreciation for all our businesses, especially our versatile distribution capabilities, and he possesses an equally embedded understanding of our culture. John is exactly the right leader for this job and I look forward to working even more closely with him."
"The opportunity to partner with such a gifted team of proven leaders to ensure we meet today's ambitious goals while transforming for the future is a once-in-a-lifetime opportunity," said Compton.
Succeeding Compton at QTG is Chuck Maniscalco, who PepsiCo named president and CEO of the Chicago-based division, which encompasses Quaker foods, Tropicana juices and Gatorade beverages.
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