A bloc of PepsiCo directors are said to want to examine a possible business split - while CEO Indra Nooyi, who is said to be opposed to the move, is reportedly working on two major acquisitions.

Citing a source "close to the situation", The New York Post yesterday (16 November) reported that some members of PepsiCo's board want to take a closer look at splitting the company's snack and beverage units, a move that Nooyi is reportedly against. The firm is also said to be close to announcing two large acquisitions. 

The report comes amid growing speculation about boardroom unrest at PepsiCo.

In August, the company said it had no plans to split its snacks and beverage divisions, despite analyst suggestions that it could follow Kraft Foods in its decision to break up its business.

However, PepsiCo's public denial has not quelled the speculation. Research by Sanford Bernstein analysts has revealed investor concerns about PepsiCo's direction. Last week, PepsiCo extended a strategic business review, prompting suspicion that the review has taken on greater significance in light of investor concern.

This week, meanwhile, Nelson Peltz's Trian Fund Management announced it had bought US$146m of PepsiCo shares - representing 0.15% of PepsiCo's outstanding shares. Peltz, who also holds shares in Kraft, is known for investing in a company and then agitating for change.

A PepsiCo spokesperson was not immediately available for comment on the latest New York Post report.